Tuesday, February 9, 2010

A Slow Climb out of the Recession Has Begun?



8.4 million jobs have been vaporized since the recession began, and digging out won't be easy.
But on a slightly brighter side, the situation is moderating. The number of jobs isn't falling as fast anymore. Now, there may be another sharp decrease, but relatively soon I believe the nation will begin recovering.
The unemployment rate fell unexpectedly in January to 9.7%. And businesses shed 20,000 jobs for the month, far fewer than the 150,000 jobs that were lost in December.
"Even as today's numbers contain signs of the beginning of recovery, they are also a reminder of how far we still have to go to return the economy to robust health and full employment," said White House economist Christina Romer in a statement.
Many temporary jobs have been created, showing that employers are hiring again. Also, many part time workers are being given their full time positions back.
So, not all is well. And economists are warning not to read too much into this improvement, for it may or may not be short-lived. Either way it's an improvement, and that means more jobs for the citizens of America. This means more disposable income, and more spending. Then, consequently more and more jobs created. I am hopeful for the economy of the United States.

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