Monday, August 10, 2009

Rate of Unemployement slows down in the US

The world's biggest economy lost jobs at the rate of 9.4% in July compared to 9.5% in June.

It had been projected by analysts that US would lose non-farm jobs by about 3.2 lakh taking the jobless rate to 9.6% but the rate reported by the Department of Labor on Friday for the month of July was less at 9.4%.

The markets starting from US on Friday evening and Asia on Monday morning are buoyant over this decline in rate of unemployment in July as compared to June. It is being viewed positively by some experts as an indication that recession is ending.

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