Saturday, February 6, 2010
Growth and hiring outlook improves
According to CNNMoney.com analysts are confident that the current economic upturn will continue into 2010. In the quarterly survey by the National Association for Business Economics the people surveyed said that they expected GDP to increase this year, and 61% of them thought that it would increase by 2% or more. Economists expect that the financial and services sectors will do the best in adding jobs. The goods-producing and transportation sectors are not expected to add many jobs though. The article compiles that statistics of the survey, and according to those polled it seems as if the economy is turning around, although slowly and limited in areas.
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4 comments:
This is good to know for those of us graduating, especially business majors. At the career fest on Friday, one of the employers said that this year was a much better year to be looking for a job than for those that graduated last year. It seems as though people are becoming more confident about the current economic conditions.
I would have to completely agree with Lindsay on this one, although I’m not a graduating senior, this article offers an increasingly bright outlook as both growth and hiring seem to be slowly recovering. The economy is very much a self-fulfilling prophecy. So when all the country hears is how terrible things are and that there is no solution on the horizon, they react by pulling their money out of the economy. Therefore, inducing a downward shift in the economy just as they postulated. Ultimately, consumer confidence is a vital part of the United States economy. As consumer confidence and optimism grows so will the gross domestic product (GDP) and job markets in the US.
This is a great survey with optimistic news. The fact that firms will be hiring more in 2010 is reassuring that we are in fact the country is recovering at a slow yet increasing pace. This crisis has served to be a lesson for Wall Street.
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