Is the Economy on the mend?
Posted by Stephen Cline on February 9th, 2010
There are a lot of folks around the globe who are waiting for the economy in the US to mend and that too for quite some time now. After all, the US economy is the huge engine of growth and sustenance for the whole world and if the economy goes into a tailspin, it can have serious and disastrous effects on the state of global finances. This is why people are watching and waiting, not to mention, praying that the economy in the US show signs of revival and an abating of the economic recession that has the world in its terrible grip. As of now, it seems as if jobs are stabilizing, which is a good sign, but if you are talking of a total revival, there is still quite some time to go.
Currently, there are still a large number of people without jobs that should not be out of the workforce. While the growth rate does and is bound to fluctuate or vary from quarter to quarter, it is also true that the unemployment rate has climbed down from a high of around 10% to around 9.7% as of the fourth quarter. There has also been a 5.7% growth rate in this quarter, which is rather encouraging.
Tags: The Economy, US