Today the US received rather encouraging news about its struggling economy, specifically relating to the unemployment rate. Forecasted to remain at around 9%, the newest Labor Department report shows that the jobless rate dropped to around 8.6%, the lowest since we started writing. Payrolls climbed 120,000, with more than half the hiring coming from retailers and temporary help agencies, after a revised 100,000 rise in October that was more than initially estimated.
Overall, employers added fewer workers than projected and earnings eased, indicating the labor market is making limited progress. If you are worried this positive news might affect the federal interest rate, don’t be.
Industry leaders say that U.S. employment growth won’t prevent the Federal Reserve from emphasizing that it will keep borrowing rates lower longer than policy makers have already indicated. The Fed will likely keep its target rate for overnight loans at current levels for as long as four years, up from the through the middle of 2013 period outlined.
With interest rates at such lows, now is the time for you to help your clients obtain small and large business loans to help them start their dream businesses. Attorneys Corporation Service, Inc., can help you form your client’s new business, whether it is a corporation or LLC, in 24 hours. Contact us today.