http://www.forbes.com/sites/leonardburman/2013/03/08/the-economy-is-finally-showing-signs-of-life-dont-sabotage-it/
The article talks about how our economy is recovering and is showing signs of life. In February over 236,000 found work which is far more than what economists had anticipated. Another positive for our economy is the unemployment rate has lowered down to 7.7% which is the lowest unemployment rate in the past four years during this economic recession. Some of the key factors that have contributed to the economic growth/recovery are the rising house prices and the growth of the stock market. Hopefully the economy continues to recover and it will be interesting to see what happens in the future years. This could potentially lead to better job placement for college graduates.
The fact that the unemployment rate is at a four year low is definitely a good sign for our economy. It will be interesting to see if we continue to see improvements in future years. I think it will be necessary to enact tax and entitlement reforms if the economy is to continue to grow but there will need to be some cooperation between the President and Congress for this to take place.
ReplyDeleteIt is worth noting, I think, that the unemployment rate for college graduates (Bachelor's degree or higher) was 4% in 2012, significantly lower than the overall national unemployment rate. This is still great news for everyone in the economy but it's impact on the unemployment rate of people in college might be relatively lower.
ReplyDeleteThe article makes very good points about the sort of fiscal policy that is required now and hopefully a solution can be reached before the conflict in government has a damaging effect on the economy.
This is the kind of news that we are all hoping for. One or two years from now, we all will be graduating, and the signs that show the economy is getting better and better each day, ease the pressure of looking for a job.
ReplyDeleteI agree with the author of the article. There is a need for reducing government's deficit but the way to do it right is a questionable issue. Increasing taxes may hurt the economy instead of improving it. Serious tax reform and entitlement reform will solve the problem in the long term.
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