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9.7% Job Loss Remains Steady


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United States- In February of 2010 the unemployment rate happily stayed at 9.7%, which is good because there was no decrease. This is a good sign that is raising hopes for the economy. But still in comparison with job losses per month 650,000 a year earlier.(New York Times) Also, against all of the news viewed as pointing to the possibility of the United States going back into the recession most economists said that the report was a sign that a recovery might be happening now because of the last month’s reports.
The Labor Department's closely watched employment reports, released last week and it says the nation's unemployment rate, which peaked at 10.1% in October 2009, has hit a high point as employers gain confidence in the economic recovery commented the Wall Street Journal.
The rate of unemployment, which hasn't gotten larger since October, could still be bottoming out. Still, 14.9 million Americans are unemployed; nearly double the total when the recession began, and the economy has shed 8.4 million jobs during that time said Fox News
The economy grew 5.9 percent rate between October and December last quarter, during last year; which was the fastest pace in the past six years. But most economists expect the pace of growth to start to slow down to about 3% in the current quarter, which won't be fast enough to fast to bring down the rate of job loss stated Fox News.



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