In December, the unemployment rate was 4.1% for the third consecutive month. The number of unemployed persons, at 6.6 million, was essentially unchanged over the month. Over the year, the unemployment rate and the number of unemployed persons were down by 0.6 percentage point and 926,000, respectively.
The legal marijuana market—both medicinal and recreational— has gotten much more complicated just as numerous additional states are officially allowing for the recreational use of cannabis. U.S. Attorney General Jefferson Session signed a memo on Thursday rescinded past guidance on enforcement of Federal marijuana laws that conflict with State laws that allow for the use cannabis.
China will launch a Yuan-based oil futures contracts, with no official launch date, but expected late this year or early next year in the Shanghai International Energy Exchange. Reported by The Wall Street Journal.