Friday, April 3, 2009

Wall Street Slipped At The Opening (April 3rd, 2009)

U.S. stock market declined at the the opening, caused by the news about the increase of the unemployment rate. The U.S. jobless rate increased to 8.5 percent in March, where around 663,000 jobs were eliminated by the employers. This was the highest jobless rate since late 1983.

The news about the unemployment rate was indeed quite bad, and this showed that the recession in United States have a very bad impact on the jobs market. But according to some economists, the report in the next months would be not worse than the report in March. Hopefully this opinion indicated that the market has found its true bottom, and the recession would end in 2009 as has been said by Ben Bernanke..


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