US: Unemployment to remain high in 2010

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The US Federal reserve has said that while the economy is expected to grow between 2.8% and 3.5% in 2010, unemployment is forecast to remain at between 9.5% and 9.7% before falling back to between 8.2% and 8.5% in 2011. January’s figures showed a decline in the jobless rate from 10% to 9.7%. The Federal Reserve added it would “take some time” for the economy and jobs market to return to normal. Yesterday also marked one year since the US Government launched their $787bn economic stimulus package which included job training initiatives – a package which while being hailed as a success by Barack Obama, has also been criticised by Republicans for not doing enough to help create jobs.

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