Unemployment rises in the U.S., while the global financial chaos continues
Amid the global convulsions in financial markets, the United States showed that unemployment rose to 9.9% in April, despite the creation of 290,000 jobs for the management of Barack Obama.
The index had stood at 9.7% for three months, but against the forecasts of economists, rose in April.
Moreover, the number of people claiming unemployment assistance fell slightly but less than expected as well.
Obama made job creation his main priority in an election year, but other events, including the oil spill in the Gulf of Mexico and the failed attack Times Square, overshadowed a little the Casa Blanca’s message.
Meanwhile, the worst days panic of the crisis in U.S., emerged with the steep fall on Wall Street at more than 9%. In line, Asian stocks fell at the end of the week and Europe the situation was not much better.
The fall was triggered by the financial earthquake the European Union (EU). In London, the FTSE fell 1.04%, while the Paris CAC was down 2.17% and the Madrid Ibex 0.28%. For its part, the Frankfurt DAX lost 1.31%.
The fear revolves around the financial crisis in Greece, because some economists predict that it will trigger a chain effect so dangerous like two years ago, when the collapse of Lehman Brothers banking generated global chaos.
However, unlike the worst days of the credit crisis of 2008, when the money left risky assets and it went to the money markets, investors are not fully back.