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US President Barack Obama says new jobs figures show the United States is climbing out of a huge hole created by the recession. But he has also cautioned the figures are not cause for celebration. The jobless rate fell to 9.7% in January from 10% in December. That’s a 5-month low. President Obama has called the data encouraging. But he also said jobs figures will fluctuate for months to come.
And those figures have had a dampening effect on the US market. The Dow fell four points and the S&P 500 closed flat. Australian shares also took a tumble with big losses in resource stocks. The ASX 200 closed 108 points lower on Friday.
And on the currency markets, the Australian dollar is on the defensive1 as investors2 fret3 about the help of the European economy. It’s buying 86.6 US cents and 55 pence.
And the President of the Japanese carmaker Toyota has publicly apologized for the faults in its vehicles which have caused safety worries around the world. Millions of cars have been recalled in Europe, China and the US because of problems with the accelerator pedals. Akio Toyoda has expressed his regret to customers who have faced the problem.
And that’s the latest ABC Business News.
1 defensive | |
adj.防御的;防卫的;防守的 | |
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2 investors | |
n.投资者,出资者( investor的名词复数 ) | |
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3 fret | |
v.(使)烦恼;(使)焦急;(使)腐蚀,(使)磨损 | |
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