According to recent thoughts shared by the Federal Reserve Bank of St. Louis President James Bullard, the labor market in America is improving amidst a strong recovery in domestic consumption and also the stability which is continually being witnessed in the housing industry.

Also, a stronger growth in the major global economies, especially in Asia, is driving the improvement in the American economy, says Mr. Bullard, who is all set to vote the monetary policies this year. The opinions were being shared by the Reserve Bank President in a speech in Shanghai today.

Despite the fact that prices are currently well contained, American inflation uncertainties have managed to remain at an all-time high.

Mr. Bullard's comments have come a day ahead of the release date of the much awaited Labor Department figures of the job market, which could show that the worst slump in US employment market, in the post World War II era, managed to finally end in December.

As far as tomorrow's employment report goes, experts are expecting that it will, for the first time since recession, actually show a growth across the sector. The rate of unemployment, however, might still remain unchanged at 10%.