Layoffs Slowing, Apple Big Conference

MYFOXNY.COM - In news making financial headlines Friday morning: the Labor Department is expected to release a jobs report that could be slowing. And Apple is gearing up for for its developers' conference next week.

Watch the video, left, for NY Money Authority Lisa Murphy's full report.

JOBS REPORT: Most economists agree we're still a long ways off from a recovery in the job market.
We’ll know just how far when the Labor Department releases its monthly jobs report today.  It's expected to show another 520,000 layoffs in may which would push the unemployment rate up from 8.9% to 9.2% --- that's the highest since 1933.  Sounds bad but it would mean the second straight month that job losses have slowed down -- and the fewest cuts since October.  Experts say it's a sign that the labor market is getting better.

CHRYSLER HEARING: Today, a federal appeals court will hear arguments in the Chrysler bankruptcy case.
The automaker wants to sell most of its assets to Italy's Fiat.  But a small group of bondholders are holding up the deal.  They say the plan unfairly favors unsecured debt-holders ahead of secured debt-holders like themselves.
Chrysler says the fiat deal is the only way to avoid a liquidation of the company.  If the deal isn't closed by June 15, fiat has the option of backing out. 

APPLE CONFERENCE: It's like Christmas-time for Apple enthusiasts.  The annual worldwide developers' conference will kick off next week.  That's the convention where Apple's newest toys are revealed.
This year, the buzz is all about a software upgrade for the popular iPhone.  Other speculation includes a new 32 gigabyte version or a version costing just $99 -- though that's a long shot.  There had been speculation that CEO Steve Jobs would make an appearance.  Though Apple says he won't return until the end of the month.  Jobs had been on medical leave since January after surviving pancreatic cancer.