Economy in Recovery?
The unemployment rate reached its lowest level in nearly three years last month, indicating a slow but sure recovery in the US. The government stated that 200,000 jobs had been added to the economy in December and they all came from the private sector.
This news could be trouble for the Republicans in their goals to oust Obama from the presidency. Their leading argument had been that the democrats have been mishandling the economy and causing the country’s high unemployment rate.
Obama stated on Friday: “We’re starting to rebound. We’re moving in the right direction. We have made real progress. We’re creating jobs on a consistent basis.”
Despite the good news, in the US, oil prices have been on a recent surge and across the Atlantic, European turmoil continues to ravage the financial foundations of the continent.