Let’s be happy and for once, not look for a cloud in this silver lining.
More good news about the U.S. economy came out this morning as the Labor Department reported employment numbers that indicate nearly 3 million Americans found work in 2014, the most in 15 years. Moreover, the U.S. unemployment rate dropped to a better-than-predicted 5.6 percent in December.
Combined with year-end reports of far better than predicted 2014 GDP growth and the economically stimulative (while not inflationary) impact of falling oil prices and it appears that the U.S. economy is benefitting from the opposite of a “perfect storm” — a perfect calm?
Of course, there is an entire industry of analysts and journalists that exists to provide an “on-the-other-hand” negative spin to any positive interpretation of the economy. Any marketplace depends on buyers and sellers with reasons to buy and reasons to sell. So don’t look for any mass chorus singing “Happy Days are Here Again.” As we’ve noted before, the U.S. economy is not one large economy, but lots of micro-economies that go up and down depending on regional and industry conditions.
But if you own or run a small business that has moved into another era since the 2008 financial meltdown and subsequent deep and long recession, congratulations. For you, this is that much deserved experience you may not have enjoyed lately, but is called a “recovery.”