The economy is recovering, albeit at a very slow pace.
Here are two stories on the recovery:
Via Market Watch:
WASHINGTON (MarketWatch) — Private-sector employment picked up in November, as employers added 215,000 jobs, Automatic Data Processing Inc. reported Wednesday. Economists had forecast that private-sector employers added 178,000 jobs, up from an originally estimated gain of 130,000 jobs in October, according to a Dow Jones Newswires survey. On Wednesday ADP revised October’s gain to 184,000. Economists use ADP’s data to get a feeling for the U.S. Labor Department’s employment report, which will be released Friday and covers government jobs in addition to the private sector. Economists polled by MarketWatch expect the government’s report to show that nonfarm employment rose by 180,000 jobs in November, compared with an increase of 204,000 in October. Markets are searching jobs data this week for clues about when the Federal Reserve will deem the economy healthy enough to start paring its massive asset-purchase program, which officials crafted to stimulate growth by keeping downward pressure on long-term interest rates.
There are some, like on the neoconservative right, that would say that this is simply not enough. To that I say, it does not happen overnight. The economy can be destroyed in minutes; but it does take a long time for it to build back up. Obamacare aside, this is good news. I just wish the numbers were higher.
And another via Market Watch:
WASHINGTON (MarketWatch) – The nation’s trade deficit fell 5.4% to $40.6 billion in October, as the U.S. exported more petroleum, soybeans and collectibles while buying foreign-made goods at a slower rate, the Commerce Department reported Wednesday. Economists polled by MarketWatch had projected the deficit would decline to $40.4 billion in October on a seasonally adjusted basis. Exports rose 1.8% to $192.7 billion. Imports climbed a smaller 0.4% to $233.3 billion, but that still marked the highest level since March 2012. American exports of petroleum jumped nearly 16% to lead the way. Exports of soybeans, which are down sharply so far this year, increased by nearly 22%. The U.S. also sold more artwork, gold and diamonds. On the other side of the ledger, the U.S. imported more crude oil, petroleum-based products, toys and pharmaceutical drugs. Over the past three months, the trade deficit has averaged $40.9 billion, little changed from $40.2 billion September and down just slightly compared to one year ago. In September, the trade gap was revised up to $43.0 billion from a preliminary reading of $41.8 billion.
As an American, as someone who is not too keen on globalism, this is very good news. The United States has the ability to produce its own goods, without relying on import, we just have not had the chance to do it. Now, if we could just stop relying on China for cheap electronics, we would be in very good shape.