11/2/12

The rate of unemployment in the U.S. is 7.9%

After the 0.3% drop in September 2012, which provoked a fierce discussion on the accuracy and biases associated with the Census Bureau's surveys, the rate of unemployment has risen by 0.1% in October and the BLS reported 7.9%. This figure provides a strong support to the long term downward trend in unemployment and, in turn, a positive trend in employment. According to our version of Okun's law, we expect a healthy growth in real GDP by 3% per year.

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Spain chases France and Italy in the economic fall race

The news about blackout in Spain is in full harmony with the overall decline of Spanish economy. The growth rate of real GDP per capita has ...