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The Economy asks; how do you like me now?

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 In November 2009 I had a poll that asked your opinion on the State of the Economy.  The results were as follows:

  • 62% said the Economy was off of the bottom but early in recovery.
  • 15% said we were scraping along the bottom
  • 8% said still going down hill
  • 8% said recovering now with robust growth in a few months
  • 8% said that unemployment would worsen until at least Q2 2010

 Now, almost 5 months later I ask again; how do you assess the economy?  Before, you answer let me give you a few facts.  Since November we have had a net gain of 117,000 jobs as listed below:

  •  November ’09    +64,000
  • December ’09   -109,000
  • January ’10        +14,000
  • February ’10       -14,000
  • March ’10        +162,000

 We also had Q3 2009 GDP growth of +2.2% and Q4 2009 GDP growth of +5.6%.  Estimates for Q1 2010 GDP growth are around 3%.  Unemployment stands at 9.7% and last months job gains were more than anticipated.  It will be interesting to see how April will turn out. 

 In November if I was asked if I would be happy with that type of turn around in the job picture, I believe I would say yes.  In reality the turn around was very rapid.  See the job losses by month totaling 3,663,000 starting in February 2009:

  •  February 2009      -681,000
  • March 2009          -652,000
  • April 2009            -519,000
  • May 2009             -303,000
  • June 2009             -504,000
  • July 2009              -344,000
  • August 2009         -211,000
  • September 2009   -225,000
  • October 2009       -224,000

 The amount of jobs lost in those months is staggering but I believe we are going to have a similar upside growth in jobs beginning very soon.  If we create 400,000 jobs in April which I believe we could, the recovery is full swing and it is off to the races from here!

 Have a great week.   Please vote in the poll below:

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Written by pacelinebiz

April 19, 2010 at 9:18 pm

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