Unemployment Rate

Obama and his economic advisers must be rejoicing over the fall of unemployment rate that is reported to be around 9.7% what is lower than expected rates. Real good news for Democrats and a shut up call for critics. The fall in unemployment rate and positive growth in GDP has signaled that recession has passed. Most of the analysts are unanimous over the passing of recession but some of them are not very enthusiastic about the unemployment rates. The statistical data has shown that nearly eight million of Americans have lost their jobs in recession. So it will take a minimum of 3-4 years to regain those jobs. Economy has shown healing signs and 0.5 million jobs are reported to be recreated. The half a million new jobs will expand the demand of consumer goods and will contribute to a rise in GDP. To add color to the rosy picture the underemployment rate has also gone down.

The Factory payrolls have registered an increase of 11, 000 in the first month of 2010 but that’s not something to celebrate because the preceding month a fall of 23,000 was reported. The Obama Administration Govt. is planning to increase the small business loans’ ceiling temporarily to enhance the hiring power of private sector. Previously some tax cuts were given as incentive to restrain unemployment rate.

The Stocks are showing positive trends and dollar is stabilized against major currencies.

The fresh wave of snow has prolonged the winter in some states but it seems that the frozen economic scene is changing into a budding season.

You might also like

	Indiana Unemployment Indiana unemployment has reached 10.1 percent. The unemployment rate in Indiana reached double figures in April this year and since then it has remained near ten. The overall US unemployment rate is approximately...
	New York State Unemployment New York State unemployment rate remained unaltered at 8.8% during the month of February. The New York State unemployment is slightly lower than the national unemployment rate that is estimated around 9.7%. According...
	January Unemployment 2010 The rising rate of unemployment is a matter of profound concern. The opportunities of jobs will be disappointing in spite that January unemployment 2010 ratio surprising came down a bit from ten percent to 9.7...
	Alan Greenspan After the news of promising performance of the US economy during the last quarter of 2009, electronic media is holding talks about the recovery of the economy. Alan Greenspan appeared on "Meet the Press" NBC's...
	NYS Unemployment According to a report by State Department of Labor NYS unemployment has increased by 1.7 % over the past year. The data for New York City shows a slight fall in February as compared to 10.4% in January. The employment...