Unfortunately, while private jobs are being added to the economy, the pace of job gains is not strong enough to bring unemployment down to where we would all like. In fact, although the United States added over 1 million net new jobs through November, the unemployment rate remained at 9.8 percent.
Supervising financial intermediaries contributes to the protection of savings; it acts to contain crises and their repercussions on the economy, although it cannot eliminate them entirely. In Italy the long and severe recession was exacerbated by some instances of malfeasance within the banking system which, though few in number, had serious consequences at local level.