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The Conference Board recently reported that the consumer confidence index rose from 53.3 in December to 60.6 in January. This is one positive sign for our economic recovery in America. The average unemployment rate in America recently fell lower as well, which is another positive sign. These data points individually however are not as important as the positive line of trending that needs to be seen from several positive points of data. We could begin to add to this data set today as the government will report initial claims for unemployment benefits later this day. The Feds recent assessment of the recovery and the unemployment situation across the United States wasn’t pessimistic, but it wasn’t glowing with positivity either. The Feds report that the economic recovery is not moving as fast as they would like, and the unemployment data is not improving as quickly as they would like to see happen either. The Feds will continue to move forward with a variety of methods to promote economic stimulus. The tax cut package put into effect last week is helping Americans take more pay home as it lowered potential income taxes and Social Security taxes. Unemployment is still the main concern however. The rate, 9.4 percent, is still at an unacceptably high level and the Feds are still looking for ways to bring this number lower, and keep the number lower at over time. The extension of unemployment benefits is helping those Americans out of work, but getting Americans back to work is the ultimate goal. Author: Stephen Johnson
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