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Unemployment falls in the US

The unemployment rate in the US fell to 9.7% last month which was lower than the 10% expectations of many analysts. In this tipsy topsy world of very different economic performances it now appears as though the US is starting to form some kind of solid base from which the economy can start to build. However, we are not out of the woods as yet!

More and more it looks as though investors and analysts are looking towards the US to pull the worldwide economy out of recession with further issues expected across the euro zone in the short to medium term. We have already seen the Greek authorities admit they have lost control of the government budget and now there are similar issues relating to Spain and Portugal. The EU has stepped in to offer some support to the Greek authorities in the short to medium term but there is a growing belief that Spain and Portugal will not be the only other Eurozone countries affected by these ongoing issues.

Despite the fact that the US economy seems to be on the turn it has been confirmed that US interest rates will remain at current levels for the immediate future in order to give more power to the recovery.

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