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US Employment Continues To Rise

According to recent figures, the US economy created an additional 200,000 new jobs in December, beating analysts’ estimates of 150,000. This represents the sixth month in a row that the employment rate has risen.

Officially, the unemployment rate has now dropped to just 8.5%, from a revised 8.7% in November. This is the lowest level in nearly three years. A large proportion of the job gains were in retail, manufacturing, transportation,

US in the spotlight

Today it is the US that is in the spotlight, with growth revised downwards for the third quarter, according to figures from the US Commerce Department. The previous estimates saw the economy growing at 2.5%, but the new estimate puts this annual growth at a significantly lower 2%. This is nevertheless a marked improvement on the Q2 figure of 1.3%. The downward revision was largely due to restocking by firms being over-estimated previously.