The Financial Times has reported that the unemployment rate in the United States has jumped unexpectedly to a five year high of 6.1 per cent. This figure suggests a bleak picture of the world’s largest economy. Labor Department has released data which shows that there were more than 84000 job cuts in the month of August. This is worse than expected by the economists.
The government has announced an upward revision assessment of gross domestic product in the second quarter and it was expected that it will improve situation but the hopes were dented by the new job cuts. The republican presidential candidate has said that a focus on job creation will improve the situation.
The Financial Times has reported that the unemployment rate in the United States has jumped unexpectedly to a five year high of 6.1 per cent. This figure suggests a bleak picture of the world’s largest economy. Labor Department has released data which shows that there were more than 84000 job cuts in the month of August. This is worse than expected by the economists.
The government has announced an upward revision assessment of gross domestic product in the second quarter and it was expected that it will improve situation but the hopes were dented by the new job cuts. The republican presidential candidate has said that a focus on job creation will improve the situation.
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