Looks like even with the stimulus plan, job losses are still continuing but at a slower rate than last quarter. The unemployment numbers go to 9.5%, meaning 467,000 more people lost their job. Even government related jobs were cut by 52,000. I still think government related jobs are the best way to go in this recession.
The economy is still staying resilient.
The renewed acceleration in job losses contrasted with a batch of recent economic reports that signaled improvements in various parts of the economy, including housing and manufacturing. A separate government report, for instance, showed that factory orders in May increased by the largest amount in nearly a year*