After four bumpy years, the U.S. recovery finally appears to be on a smoother road. Many economists now predict 2014 will be the best year for growth since 2005, while joblessness is expected to click below 7% next year for the first time since 2008. Houses are selling again, the energy sector is booming and jobs, while not plentiful, are being created at a steady pace.

 

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Pat Minczeski and Erik Brynildsen

 

Source: The Wall Street Journal

 

 

Category: Digital Media, Economy

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3 Responses to “Gauging the Economic Recovery”

  1. rswojo says:

    Stats from 2009 is the best you can do? It is 2013.

    I live in flyover territory and I see very little if any economic growth. I guess things must be better on the coasts.

  2. In reviewing charts:
    1)Private industry jobs are on the low side of the averages & in general have been of the low paying nature
    2)Household networth, as you stated, has been from home values rising & the rising stock mkt (a lot of wealthy people are in there,) . I don’t see anything about the average family’s savings having gone up.
    3)Construction of single family homes, as shown on your chart, are at the bottom
    4) Business invest in equipment……Is this just a matter that it’s been on hold and now due (like replacing
    that old junker of a car you have been holding off on?
    Software I think, & it’s just my opinion, that keeping up in such a fast changing tech age, there is no
    choice about this item
    5) Consumer spending at the bottom absolutely makes sense because of the low paying jobs people are taking & tightening their belts another notch
    6) Gov’t Spending being down makes sense, as all the talk is always about cuttimng back. Truthfully I think they should be spending by pushing out huge amounts of infrastructure contracts. I am a NYC municipal contractor that has been holding 5 yr contracts, but with no P.O.’s,and for years have laid off all my employers. Give me work and I will re-hire immediately & the same, naturaly for all gov’t contractors. Spend and get people back to work, paying taxes and buying products, not to mention everything contractors have to buy to do the work.
    7) Industrial Prod. Manu…..I have not commented, except we’ve certainly have provided enough wars that produce manufacturing (unfortunately the price of lives do not seem to matter)
    8) S & P……………Fed printing & pumping $ at $85 billion/mo….or $4 billion/day……..it seems like the feds have had just a SMALL hand in this.
    I don’t understand, with $85/mo from the Feds, how is the economy not flying? There is more than
    meets the eye to all the ‘Recovery’ numbers

    All in all, I cannot help but be Bearish on where the USA is headed economically. I live in NYC and if NYC is having it’s financial problems, well, I cannot be too sure about the rest of the country. I believe it’s been a lot of smoke & mirrors about our “Recovery” (maybe for the wealthy, not the working class).