Recovery or Not?

May 14, 2012

During 2011, many thought that the economy was trending upward and moving out of a recession. The unemployment level was lower than it had been in two years. The Federal Reserve thought that the economy could grow by 3.9%. However, optimists jumped the gun in their predictions. Oil prices drastically rose and there were many budget cuts. There was a also a nuclear disaster in Japan.

By the middle of 2011, unemployment was rising back up again, creating fear and causing people to wonder if their careers were at risk. And to top it all off, the economic growth slowed to a mere 1%. However, the recession was not affecting everyone. Salaries were rising for upper class Americans. But, there was still hardship for the rest of the country. Over 14 million people has been unemployed for over six months and the situation wasn't getting any better. Washington didn't seem to be doing anything about the situation and people were losing faith in the government.

Unfortunately, the economy is not in much better condition today. But, the unemployment rate is decreasing and people are optimistic about the economy. They believe that the economy is trending upward again and that we might pull out of the recession. However, many are afraid that it might be similar to 2011 - we start to become more economically stable, only to be brought back down again.,28804,2101344_21013...