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, warehousing and healthcare. For 2011 as a whole, the US economy saw a rise in employment of 1.6 million – the highest rise since 2006.
On the other side of the Atlantic, the euro is in continued decline and has breached $1.27 for the first time in more than a year. In the UK, Rolls Royce has announced that it sold more cars during 2011 than in any other year since it began production. The previous record was in 1978. The sales growth was particularly strong in Germany, Russia and Asia-Pacific.