WASHINGTON, July 6 (Xinhua) -- The world economy is still in danger despite recent positive signs, World Bank President Robert Zoellick said Monday.

    "The actions you and other leaders have taken over the last few months have broken the fall in the global economy by stabilizing financial markets and boosting demand," Zoellick said in a letter to the Group of Eight summit scheduled to held later this week.

    "Yet 2009 remains a dangerous year. Recent gains could be reversed easily, and the pace of recovery in 2010 far from certain. I recognize that some developed countries are now considering a policy mix that assumes the recovery is at hand.

    But for the developing world, it is far too early to think of such measures," he wrote.

    Zoellick called for more help for developing countries, and said that the needs of the poorest should not be forgotten in the crisis.

    He said the global economic crisis is not of the developing world's making. Yet it is suffering. The struggles may intensify as developing countries are hit by multiple waves of misfortunes.

    Zoellick urged the G8 leaders to focus on three priorities in the near term, including follow up the G-20's promise to restore growth and lending in their own economies.

U.S. unemployment rate at 26-year high

    BEIJING, July 3 -- Employers cut a larger-than-expected 467,000 jobs in June, driving the unemployment rate up to a 26-year high of 9.5 percent, suggesting that the economy's road to recovery will be bumpy.

    The Labor Department report, released Thursday, showed that even as the recession flashes signs of easing, companies likely will want to keep a lid on costs and be wary of hiring until they feel certain the economy is on a solid ground.  Full story

California declares state of emergency due to budget impasse

    LOS ANGELES, July 1 (Xinhua) -- California Governor Arnold Schwarzenegger on Wednesday proclaimed a fiscal emergency following the legislature's inability to pass a comprehensive solution to solve California's entire 24.3-billion-dollar deficit.

    The governor said he has to exercise his executive authority to save cash for vital state functions and services by ordering three furlough days every month.  Full story

Euro-zone unemployment rate hits 10-year high

    BRUSSELS, July 2 (Xinhua) -- The unemployment rate in the 16-member eurozone hit a 10-year high in May of 9.5 percent, Eurostat, the statistics office of the European Union (EU), said on Thursday.

    The seasonally adjusted figure was up from the 9.3 percent rate registered in April and much higher than the 7.4 percent mark from a year ago.  Full story