However, the unemployment rate jumped to 9.4%, a number not seen since July of 1983.  This was anticipated.   Annetta Marcosca, a U.S. economist at Societe General, stated:

"We're still seeing job losses, but the losses are abating at a pretty rapid pace, actually much faster than we had been anticipating.  Based on what we're seeing in the real economy, job losses have been cut basically by about 50% from January when we saw the deepest cuts of about 740,000. "

This tone of optimism is still being met with caution.  Since the recession began in December of 2007, 6 million jobs have been lost.  In the automobile sector now, it is anticipated that some dealerships and factories will close in order to get back on the right road. 

Employers are, however, slowly gaining confidence as the Obama stimulus plan works its way through the economy.  So it's possible, in view of all these signs, that the worst of the recession and the job cuts may be over.