The good news from yesterday's unemployment numbers is that 290,000 jobs were added in April with private employers adding 231,000 of those jobs, the most since March 2006. The bad news is that the unemployment rate actually increased (9.7% to 9.9%) as people returned to the workforce. The Calculated Risk Blog has a summary of the unemployment report
along with useful graphs comparing this recession to past ones. Unemployment rate is one of the important factors that impacts the Fed's decision on interest rates.