1st QT Economic News

"Economic Rebound Slowed Last Quarter" - an article By JEANNINE AVERSAAP - See full article from DailyFinance: http://bit.ly/dbztav  The following excerpts are from the above referenced article by Ms. Aversaap.

 

In previous posts, I have discussed the link between housing, unemployment rate and economic recovery.

• The economy grew at a 3 percent annual rate from January to March
• 9.9% unemployment rate in April 2010
• Economists say it takes about 3 percent growth to create enough jobs just to keep up with the population increase.
• Economic growth would have to be about 5 percent for a full year just to drive the unemployment rate down 1 percentage point.
•  The National Association for Business Economics predicts moderate economic quarterly growth in the 3 percent range through the rest of this year.

So……. If I understand article correctly, the economy is growing but not helping the unemployment rate. I guess this is what they call a jobless recovery.
7-8% unemployment rate would seem to be a logical goal at the moment. Although still high, this is rate is manageable.  

• At 5% economic growth, the 8% unemployment rate goal would not be achieved until 2013.
• At 10% economic growth, the 8% unemployment rate goal would not be achieved until 2012.

Where will the economic growth come from to reach a 5% or an unbelievable 10% growth rate? Ask around and post your thoughts.

 

Next week will be devoted the importance of knowing your local market and forgetting about the above national statistics. I think the national perspective is important to know but the local market impacts your business day-to-day. Do not become frozen in-place.

  

We must become experts in our local markets and act positively.

 

NOW is the time to Rebrand, Reinvent and Re-energize your business.