Reduction of unemployment will take time

Chief Economic Adviser to President Barack Obama’s Lawrence Summers (Lawrence Summers) said on Monday that the solution to high U.S. unemployment rate is vital, but it will take time.

Summers noted that the unemployment rate 10.2 per cent indicates that the matter should be dealt with immediately, but such problems are not solved “for the week, month or year.”

The labor market, despite the increase in economic growth in the third quarter, remains weak.

Unemployment rate 10.2 per cent – the highest figure for 26 years, and it may even increase, before the situation begins to improve.

In November, the rise in unemployment has slowed

Increase in unemployment in the United States slowed significantly in November, as hopes for economic recovery encouraged some companies to keep jobs.
Analysts say that, even without taking into account the seasonal factor associated with employment in the sector of retail sales were seen clear signs that the labor market is moving towards stability.
According to analysts in November, the number of jobs would be 130 000, compared with 190 000 in October.
Unemployment rate, according to the Ministry of Labor based on a study of households, remained unchanged 10.2 per cent. The report on labor market statistics published by the Ministry on Friday.