This has been excellent data because the November unemployment in the US not only prevented the record of the last 26 years from being higher than the 10,2 of October, but also reduced it to 10%. The president Barack Obama highlighted that the data is positive but we have still a long way to obtain a prolongated improvement in the job market.

This data was released from the Employment Department and gives a different feedback from what Reuters and Bloomberg predicted. They did not forecast a decrease of the job destruction from 111000 in October to 11000 in November, and the unemployment rather than remaining in the record of 10,2%, lowered to 10%.

This improvement in the US labor market is Totally positive for Wall Street, the S&P500 rose by 1,3%, the industrial Dow Jones and the technological Nasdaq rose by 1% and 1,3% respectively.

Barack Obama spoke to the Nation about it

The White House reacted to this report immediately, although the governmental office saw signals showing that this could happen, Barack Obama hasn’t been excessively optimistic about the unemployment.

The president Obama said that there is still a long way to run and there will still be more difficulties in it. However, he also remarked that this is a welcome signal because we are facing better days with lower unemployment.

In his speech, Obama highlighted that we mustn’t be over-confident and that next Thursday will show more details about possible ideas to help reactivate the private employment. He also asked the companies to hire more in a effort to improve the economy.

Once the labor market improves, the president Barack obama is committed to reduce the fiscal deficit, one of the priorities than congressmen demand to the executive. The public finances are suffering a great issue because of the unemployment, the emergency plans and the Obama’s stimulus packages .

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In Wall Street, unemployment has been the key data, this tax rose from 9,8% to 10,2% a 26 years max, due to the destruction of 190,000 jobs, more than the 175000 expected by the analysts.

The investors of Wall Street are awaiting with some trust the release of the official unemployment report of the US corresponding to the month of October. In his forecasts they promised to wall Street and all the nation, the smallest employment destruction in more than a year, 175000 jobs.

The data,has been a bad new for Wall Street, Investors were expecting a rise from 9,8 to 9,9. But 10,2% is something never seen since 1983.

The unemployment continues being one of the biggest issues of the American Economy and for this reason, the FMI will hold a meeting to reiterate that in spit of the end of the recession, will keep the interest rate between 0 an 0,25% , in levels exceptionally low, during a prolongated period of time.

The Fed has insinuated that the true inflexion point in the interest rates isn’t the economic growth,nor the profits in Wall Street but the improvement on the labor market, And the forecast about unemployment predict that it will continue rising during all the 2010,with an unemployment rate over 10% for first time since 1983.

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