It has been reported that the rate of unemployment in the United States is now decreasing. This is because the people have now stopped looking for jobs.

The unemployment rate, which was recorded as 9.7 percent in the month of May, has now fallen. Data revealed that more than 600,000 people in the United States have stopped their search for jobs, which has reduced the unemployment rate to 9.5 percent.

This is happening because the economy has stopped creating new jobs. Not only this, many of the persons, who were working as temporary employees in the companies, are no more employed.

The private sector also disappointed the job seekers last month, when they appointed only 83,000 people in their companies.

It was earlier declared that nearly 110,000 new jobs are going to be created in the private sector.

Many countries are also observing a steep fall in the value of their currencies. Where the Australian Dollar dropped by 0.24 cents, the value of Yen fell from 60.98 to 60.33.

The New York Stock Exchange recorded a dip of 0.65 cents in the price of kiwi.

However, it seems that the recession has completely smacked the New Zealand economy. The value of their Dollar has declined drastically.

Khoon Goh, Senior Market Economist at ANZ New Zealand said, "More people are reducing their long exposure to the US dollar, which prevented the kiwi from falling further against it".