US unemployment to fall under 7% by year end

US unemployment to fall under 7% by year end Zeebiz Bureau

San Diego/New Delhi: US unemployment is expected to decline to between 6.8 percent and 7.0 percent by the end of this year, as per a news wire report.

US central bank would stop buying bonds if the jobless rate indeed fell at this pace, which would bring the level of unemployment close to the Fed's threshold of 6.5 percent, a Fed official was quoted as saying.

Data released earlier on Friday showed the U.S. unemployment rate held steady at 7.8 percent in December.

With Agency Inputs