Thaindian News

By Meena Kar
New York, Mar 6, (THAIDIAN NEWS) The unemployment rate of the United States has been a great cause of concern since the financial sector of the country was hit by the economic recession. Records indicate that the number of job cuts in all the states of this country has increased steeply in the last few years, which worried the common men. However, the latest reports indicate that the job scenario of the country is developing gradually and the unemployment rate of the country has remained constant this month.

Though the unemployment rate has not decreased, still people are relieved to see that it has become constant and has not risen further. As stated in the reports, Friday, the Bureau of Labour Statistics declared that the rate of unemployment in the United States is constant at 9.7 percent, since January 2010. The reports also indicated that this is the second month after April 2008 that the number of unemployment in the country has not risen.

According to the reports, it is true that the unemployment rate of the country has stabilized these days, though there were thousands of job cuts in the month of February. It means that even though there were numerous job cuts, there were several other job opportunities that gave employment to the people. The chief economist of the Nomura Securities International Inc., David Resler commented that the weather effects had played foul in the last few months and “were enough to transform” the positive development into negative. Though the weather conditions was not suitable for the job conditions of the country, it failed to increase the rate of unemployment.