WASHINGTON — The U.S. April employment report is best described as “less weak than feared” but still shows a recessionary environment. It’s far too early to call stabilization in the labor market.

Nonfarm payrolls printed down 20,000 in their fourth drop in a row and the February-March revisions totaled an 8,000 loss. The payroll composition mirrored recent movements, with services stabilizing.

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