Is Economic Skepticism Well Deserved?

The economic recovery has been extremely liquid over the past five years. It has been a major roller coaster ride, with promises of better times ahead, followed by worse times. The economy would seem to recover, and then it would slow down again. No one knew what was going on, and that may still be the case, but is the skepticism that America is feeling when told that the economy is definitely on its way up actually deserved? Well, maybe so, but there are still a lot of reasons to be optimistic about the economy. One of those reasons are a couple of recent reports that have just come to light that seems to show a possible cause for optimism and celebration.

economyOne of the factors that show where the economy is at is the unemployment rate. It is now at its lowest level in the past five years. That’s seven percent for anyone who is counting. The big thing however, is the number one gauge that people are using to decide whether the economy is doing well or is still doing poorly and that is the housing market. The housing market is doing quite well. Home prices are coming back and sales are up to where they should be. In fact, the numbers for homes are back to what they were in 2007 in many areas. Car sales are also up, and that is an indicator of a strong market, and gas prices are down quite a bit. Even stocks are up more than 25%

However, to some, they just aren’t seeing the results from these facts. In fact, according to a recent CNN poll, only one out of four Americans believe that the economy is recovering, while a significant portion believe that the economy is actually getting worse. The economy doesn’t feel better to these people, it feels worse, and according to Elise Gould, Economic Policy Institute labor economist, it is because it its worse. But things may turn around for these people very soon. The hard part is simply the waiting to see.