http://finance.yahoo.com/news/Economy-growing-but-recovery-apf-3242332094.html?x=0&sec=topStories&pos=main&asset=&ccode=
Today posted the first growth in GDP in over a year, of 3.5%. That is good news on one end, but not the end of all problems. Joblessness still continues to rise. The rise in GDP has been attributed to one time deals like cash for clunkers and the home buyer's credit. Economists worry that once these measures are over, the economy will need more to keep in the positive.
The jobless rate rose again last quarter. If we don't see improvement in those numbers, we may end up back in the same spot again. Consumer spending drives the economy for our country, and Americans having jobs is a big part of that.
Don't forget to look at the bright side though, the market it up. That means that investors see a brighter future. We also managed to keep the slide from breaking through and going down to 8800 on the Dow. We may just end up sustaining this rally.
Have a good weekend.
Thursday, October 29, 2009
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