Excerpt from: Forex News
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| May 06, 2009 | | High job losses, but the rate is slowing | Unemployment is slowing. Job loss data from March to April was still close to 500,000, but it is much lower than the adjusted February to March decline of 708,000.
Indeed, the fact that the pace of job loss is slowing is providing a certain measure of confidence in the economy and even in the stock market at the open.
Yesterday, Ben Bernanke said that he thought the recession was coming to an end, and that growth would likely be seen later this year. This job loss data seems to be one indication that the economy may actually be reaching its bottom. It will be interesting to see where the U.S. dollar goes from here, since it is widely expected to show weakness as the economy improves.
| Topic Tags: Ben Bernanke, economy, forex trading, job loss, job loss data, stock market, U.S. dollar, unemployment data | |
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