Ask 5 different economists where the US is as far as recovering from the recession and you'll get 5 different answers. The outlook on the economy is up in the air with experts simply not agreeing on progress. The
New York Times expected the reports for February's job cuts to be well over 100,000, while the
Los Angeles Times reported February cuts to be 42,090.
USA Today noted that personal spending rose slightly, while the New York Times claimed average household debt ate approximately 17.5% of disposable income. Each way you look at it, the country still has a long way to go to get back to comfortable times.
Hiring is still slow to emerge because many manufacturers are still selling surplus and waiting until demand rises to continue production. Economic outlook in general appeared in jagged lines across several graphs. Each article noted a grim reality, but included hints of optimism as they explained things that have improved since the recession first hit.
Photo Credit:
David Kidwell/Pocono Record, via Associated Press
Photo Caption:
Job losses are expected to have accelerated in February, mainly because of snowstorms.
No comments:
Post a Comment