Chinese Premier Wen Jiabao made an announcement on Sunday concerning the condition of global economy. He emphasized that China hopes the United States will keep its deficit to an appropriate size to ensure basic stability in the U.S. dollar exchange rate. At a news conference in Egypt Wen said: "We have seen some signs of recovery in the U.S. economy ... I hope that as the largest economy in the world and an issuing country of a major reserve currency, the United States will effectively discharge its responsibilities.”

US government report released Friday showed that American employers cut 345,000 jobs last month, the fewest since September and far less than forecast which is considered as additional evidence the economy's severe weakness was diminishing.Still, the unemployment rate reached 9.4% the highest since a matching rate in July 1983, from 8.9% in April, according to the Labor Department report.

On Monday at the 2009 Milken Institute Global Conference on Monday the CEO of Bank of New York Mellon Corp Robert Kelly noted that American companies are controlled today by too many regulators which could undermine the U.S. recovery. He said that the country needs a lot fewer regulators in fact.

According to the figures provided by the Chinese central bank by the end of March its foreign exchange reserves increased by 16% to $1.9537 trillion on a year-over-year basis. In a notice on its website the bank said that China’s reserves rose by $7.7 billion in the first quarter which is $146.2 billion less than the same period last year.

According to the new study conducted by Harris Interactive for Glassdoor.com, an online career site that posts salaries and workplace reviews, now more workers in the U.S. are concerned about possible layoffs as compared to the end of 2008. The survey found that 26% of the polled now fear being fired within the nearest six months. In a similar study at the end of the previous year 21% of respondents expressed such concerns.

The White House has announced the launch of Open for Questions, a website aimed at collecting questions from US citizens to be answered by the president.Users of the website can post their questions which afterwards are to be rated by others just like in Digg and Reddit social bookmarking sites. Top rated questions will be answered by Barack Obama.

Valentin Zavadnikov, the head of industrial policy committee in Russian Federation, criticized the actions of Russian and American governments laying the responsibility for the crisis on the national administrations. He expressed his regret noting that the U.S. along with Russia and other states are not very hasting to get insight into the nature of the economic disaster.

Over the past year worries about unemployment increased almost three times as reported by the new CNN/Opinion Research Corp. survey. The study revealed that 36% of the polled marked unemployment as the most urgent issue facing the country today as compared with 13% who felt that way in April 2008. In April last year 47% of the surveyed said rising prices and the inflation rate were the most important economic issues facing the country.

According to forex reports in February Consumer Confidence fell from 61.2 to 56.2 though economists expected the index to fall slightly to 60.6. The decrease can be imputed to the U.S. economic stress where job losses have exceeded 3.5 million since the start of the recession and growth outlook remains uncertain. Confidence is an important indicator of where consumers see the economy heading, and a rising indicator often precedes rising GDP in a downturn.

A recent survey conducted by FindLaw.com revealed that 12% of Americans have either filed or are considering the possibility to file for bankruptcy. According to the figures provided by the National Bankruptcy Research Center within the last three years the number of consumer bankruptcy filings increased almost two times from 573,000 in 2006 to 1,064,927 in 2008.

Over 1,000 employers in the U.S. were surveyed if they are planning to change their salary budget projections in accordance with the current economy environment. The results of the study conducted by WorldatWork showed that companies plan to lower their 2009 salary budget increase projections across all employee categories, industries and regions.

Verizon Business is a global leader in communications and IT solutions, announced about a continued strong demand for IP-based solution in Q4 of 2008. Sales of strategic services - such as security and IT solutions and a full spectrum of professional and managed IP services that help customers make the most of IP communications, infrastructure, network and technology -- generated $1.5 billion in income in the Q4, up 8.4 percent from the Q4 0f 2007.

NASDAQ OMX Group Inc. Chief Executive Bob Greifeld in his speech at the National Press Club said that the markets can help the country to emerge from the economy downturn by providing transparency for secretive investments that helped fuel the disaster with the government’s establishing better regulation. Greifeld thinks that the economy cannot be revived if the markets are not fixed.

A few days before the Christmas John Curran, a contributing editor at the popular magazine TIME had a talk with two top strategists at Merrill Lynch: Richard Bernstein, who plots U.S. investment strategy, and Michael Hartnett on international. The journalist decided to figure out the opinion and forecasts of the experts on the following year. In the course of the interview the analysts touched upon the stock market in the U.S. and future of Chinese economy.