02 Dec '11, 2pm

US jobless rate drops to 8.6% in November

US jobless rate drops to 8.6% in November

WASHINGTON: The troubled US economy and President Barack Obama's embattled administration received a substantial confidence boost on Friday, as unemployment sank to a 32-month low of 8.6 percent in November. Official figures showed the jobless rate fell sharply from 9.0 percent the previous month, as the economy created 120,000 new jobs. After a year that saw joblessness linger around 9.0 percent, the report was welcomed with relief. "Woo-hoo!" said Robert Brusca, chief economist at FAO Economics. "The jobs numbers are looking better." Analysts also pointed to upward revisions of past reports as evidence that the strength of the labour market has been understated for months. But while the Labour Department's report was one of the strongest since the global economic crisis began in 2008, it was not uniformly positive. Economists pointed to a worryingly sharp drop in the num...

Full article: http://www.channelnewsasia.com/stories/afp_world_business...

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Japan's jobless rate rises to 4.5% in October

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US approves Google's acquisition of Admeld

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channelnewsasia.com 02 Dec '11, 5pm

WASHINGTON: The US Justice Department on Friday approved Google's $400 million acquisition of Admeld, a company that provi...