Spring will Bring Job Growth in US
Economy is definitely mending, according to U. S. Treasury Secretary Timothy Geithner. But the unemployment status has still not changed all that much.
New jobs would only be available by next spring as predicted by analysts. Since the recession hit the nation, as many as 7.2 million people have gone unemployed. Unemployment rate currently stands firm at 10 percent.
The government gave hundreds of billions of dollars of taxpayer money into rising up U. S. banks during the financial crisis. This amount is now being repaid.
"There is still a very tough economy. The crisis just caused a huge amount of damage to peoples' basic confidence in their economic future, and you see that in business confidence, consumer confidence too", Geithner said. He also said that 2010 will bring stability; the signs of it can very well be seen as the banks have already repaid $90 billion with interest and this will soon bring economic stability.
All eyes are now set on January, when the December employment figures will be released by the Government.
New Zealand News
- First deliveries of all-electric Porsche in Australia to take place this weekend
- Crown Resorts suffers record six-month loss due to COVID-19 closures
- Australia’s Crown Resorts 'not suitable' for Sydney gaming license: Inquiry Commission
- What Does Phasing Out Cheques Tell Us About Finance in New Zealand?
- South Korean casino operator GKL closes third casino amid soaring cases of COVID-19