The U.S. economy grew at 1.7 percent in the second quarter (April – June) and the growth was slightly faster than initially estimated, according to data published by the U.S. Commerce Department. However the 1.7 annual rate in the second quarter suggests that the growth will stay weak in the second half of 2012.
Unemployment in eurozone is the highest since the euro was born. It is another sign of the tragic economic situation in Europe. The highest rate of unemployment in 17 countries of eurozone added some pressure on European Central Bank to take an action. But even Draghi’s promises cannot have an immediate result on economic situation of eurozone members.
It’s the second month and U.S. is probably experiencing an acceleration in the hiring process. Looks like 2012 has begun on the right track. The Labor Department declared Friday that the long awaited recovery of the economy has finally put pressure resulting in the addition of 200,000 jobs by the United States.