In April, employers cut far fewer jobs than in recent months and the unemployment rate dropped to 5 percent, which is better than expected. Still, the nation’s crucial labor market is strained.

The Houston Chronicle reports that, “for the fourth month in a row, the economy lost jobs, the Labor Department reported today. But in April the losses totaled 20,000, an improvement from the 81,000 reduction in payrolls logged in March. Job losses for both February and March turned out to be a bit deeper than previously reported.”

The latest numbers of the nationwide employment conditions – while still very weak – were better than many economists had anticipated. They were expecting job cuts of 75,000 and for the unemployment rate to climb to 5.2 percent.

Nonetheless, companies are handing out pink slips as they cope with an economy that is teetering on the edge of a recession. Financial turmoil, a severe housing slump and harder-to-get credit have forced people and companies to be more cautious in their spending, which has hurt the economy.

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