While unemployment is up overall, individual states are seeing improvements
The unemployment rate in 21 states dropped during the month of April. This is an improvement over March, in which unemployment rose in 46 states. However, even with this good news, the overall unemployment rate continues to climb.
There are hopes, however, that this news signals a degree of stability for the job market, and in terms of helping the economy on its quest for recovery. Overall, unemployment in the U.S. is up to 8.9%.
While the employment numbers prompted a higher U.S. dollar yesterday, on concerns for the economy, the story has changed today. Many forex traders are focusing on more positive news (such as European PMI and the German ZEW) and sending the euro higher in forex trading.
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