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US jobless figure remains stable

Despite concerns that the US jobless figure would continue to rise for some time to come it has been revealed today that the rate of unemployment in the US remained unchanged at 9.7% during February. This is a welcome relief to investors who had been growing concerned that the US economy was not moving as quickly as many had hoped and indeed might have been slipping back towards recession.

Slowly but surely the pieces of the jigsaw representing the worldwide economy are starting to slip into place and investors are becoming more confident about the short to medium term future. However, as we saw with the Greek debacle this can literally turn on a sixpence and nobody is yet willing to put their investment life on the line!

It will be interesting to see how the rest of the world compares to the US economic recovery which is now starting to gather pace. The UK is still struggling to pull away from the recession although the signs are that a base is forming which could create a very useful springboard for the future. Perhaps now we are only beginning to see the signs of recovery from what has been one of the worst recessions in living history and something which many people will never experience again.

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