Business Leap Frontier

The unemployment rate in USA has dropped surprisingly in July. Experts consider it as   one of the strongest signs so far that the worst economic recession and think the Great Depression might be ending. However, around 14.5 million citizens are still jobless in the USA. Employers dismissed 247,000 jobs in July. The amount is less than forecasters had expected.

Labor Department reported on Friday revealed the unemployment rate decline to 9.4% July, compared to 9.5% in June. The statistics said that for the first time unemployment rate has slumped since April 2008.  President Barack Obama said a $787 billion economic stimulus plan is taken and it would be signed within few months of taking office to stop the downturn from getting worse. Nonetheless, there is a warning of a fragile job market.