Several important reports support the economic consensus that the recession is ending. Despite many encouraging numbers the fact remains that people are struggling.
|
|
|
Chart from Bureau of Labor and Statistics |
Unemployment continues to grow. As recent Bureau of Labor report show, even for many who are working, real income is down.
The Bureau of Labor reported today, "Since reaching a high point in December 2008, real average weekly earnings have fallen by 1.9 percent."
Loss of jobs and loss of income will make it difficult for consumer spending to drive the recovery.
Federal Reserve Chief Bernanke today shifted focus towards the budget deficit, but also for the world economies, especially China, to push for greater trade balance. If the US consumer is not in a strong position to increase personal spending, then Bernanke suggested it is necessary for other nations to "boost consumption."
He is looking for the world economies to develop more of a balanced trade as one of the requirements to avoid future world financial crises.
|
Thank you for visiting. This is the professional blog for |
|
Richard Smith Conventional, FHA, FHA 203k, HUD $100 down purchases, VA, Jumbo VA, Rural Development, Jumbo, FannieMae Homepath, Home Equity Line of Credit (HELOC). |
|
Stearns Lending, Inc |
|
Cell phone: 423-280-0345 Email: Richard@HomeLoansChattanooga.com |
|
Visit my website: www.RichardSmithHomeLoans.com To inquiry about a home loan Begin Here |
|
Read my most recent articles in Scotsman Guide. |
|
This blog represents the opinions of Richard Smith. The posts and comments written on the blog do not represent the opinions or positions of Stearns Lending, Inc. |
