5 Signs the Economic Free-Fall May Be Over

Posted on | August 27, 2009 | No Comments

We’ve gotten a few bits of good news in the last week that lead me to believe the economic free-fall is at an end.  But, if we’re at the bottom, is there a sub-bottom, a basement, or are we on the verge of economic recovery–no where to go but up?

1. U.S. gross domestic product (GDP) contracted only 1% in Q2 2009, compared with the 6.4% in Q1 2009.
2. The number of newly laid-off people applying for jobless benefits decreased by 10,000 this week for a total of 570,000 claims, compared with 580,000 last week.
3. Home sales were up 9.6% in July, the most in 4 years, and the fourth month of growth.
4. Orders for durable goods were up 5%, marking a third month of growth.
5. The unemployment rate appears to be holding steady between 9.4% and 9.5%.

We’re not counting our clunkers before they’re counted, but we expect the Cash for Clunkers program will add a healthy bounce to the automotive sector, and that the Back-to-School Season won’t be a complete wash.

Recession over?  Recovery beginning?  Given a choice, Careersthatdontsuck.com chooses hope.  Join us.

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