The US job market saw a shocking 85000 job losses last week, against the 20000 plus drop expected by most of the analysts. But the rate of unemployment has remained at the 10% mark due to many people moving out of the working class.
The US economy is of course on a recovery path, and experts believe that in the next few weeks there can be a reversal of job losses. And an optimistic estimate by a group of economists, has put the unemployment rate at less than 8% by the end of 2010.
If that happens, we can expect the US dollar to once again become the favored international currency.
US unemployment still at 10%
January - 10 - 2010 - Sunday
