Today’s Economic Growth

Here is the news everyone has been waiting to hear, “the economy is rebuilding!” This is by no means a quick process, but according to USA Today’s economy section, most jobs are expected to grow from here on out. A drop in 2008, and a low, but steady pace in 2009, brought forth a rebuilding that will continue to grow more rapidly. The all sector one-year forecast change in jobs is 2.0% while some of the sectors more related to Rowland Mountain are: Manufacturing 1.0%, Professional & Business Services 3.3%, and Construction 5.1%. While the construction industry is still working hard to rebuild itself, it still has a long way to go to get back to where it started.

While this is great news, oil prices affect our economy enormously, and with the rise in gas prices last month, our economy did not go untouched. Of the nation’s 12 Federal Reserve Banks, only Dallas showed any growth in the past month. New York, Chicago, Atlanta, and Philadelphia all saw a drop in growth, while Boston, Cleveland, Richmond, San Francisco, St. Louis, Minneapolis and Kansas City said that growth stayed steady.

Our economy has a long way to go, but this is definitely a positive sign for us all.

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