One of the best indicators for the status of an economy is the unemployment rate. This article states that the most job openings in a year occurred in December and have continued to see high openings in the following months. Economist believe the economy will continue to expand so employers are looking for new workers for the expected continue growth. However, the Fed Chairman, Ben Bernanke stated, “We still have a long way to go before the labor market can be said to be operating normally.” He went on to say the number of people who have been unemployed for a long term (27 weeks) is too high. Do you believe the economy is on its way to bouncing back or will the economy dip again?
http://www.businessweek.com/news/2012-02-07/job-openings-in-u-s-rise-by-the-most-in-almost-a-year-economy.html
4 comments:
This is somewhat exciting news for us college students. Any little signs that unemployment is reducing gives us a little light that more will be available for us upon graduation. I know this is something that we all have in the back of our heads so it is great to hear that there are steady improvements in our economy and especially in the job sector.
I'm encouraged by the progress, but still skeptical that this will be an immediate bouncing back. I think there has been serious damage done that will need to be addressed and dealt with before we will see an economy close to what it was previously. The European crisis is still being dealt with and the problems of underemployment are still very real at this point in time.
I believe that we are really off the bottom. This notion comes from the econ course I tool last semester. But for most of the people, they still think we are in the economic recession and even getting worse. It will take a long time to recover, and only when people believe so, then it will come true.
I agree that a lot people still think that we're in a recession and getting worse. This lack of consumer confidence definitely has a large role in the speed of our recovery. However, indicators that the economy is improving are having an effect on consumer confidence and, once we reach a more stable unemployment level, I feel that the recovery is going to be quicker than most are anticipating.
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