Economists Upbeat About U.S. Recovery
A survey of leading economic forecasters reports that economists feel generally positive about the strength of the economic recovery.
The report from the survey, conducted by the National Association for Business Economics, stated that they "expect the recovery to remain firmly on track," with 3.1% percent growth over the next two years.
The NABE survey also predicted a rise in new hires. Lynn Reaser, president of the organization, said they "believe improvement in sales and profits will cause [employers] to put out the hiring signs relatively soon."
Despite forecasted job growth for the coming year, however, the reduction in jobless will probably only take the unemployment rate down a tenth of a percentage point, from 9.7% currently to 9.6% by the end of the year.
It's a meagre reduction, but for the million or so Americans that will be heading back to work this year, that small change can amount to a lot.