Today the International Monetary Fund sounded the global recession alarm asserting that the world faces a serious risk of recession and growth overall not likely to exceed 3.3%. However, recent US economic indicators are more positive than they have been in months. More importantly, many indicators are turning positive together, rather than bit by bit as has been the case in the past.
To learn about the surprising strength in the economy, listen to Gazelle Index CEO Danny Boston as he breaks down the developments on set with CNN anchor Suzanne Malveaux. Boston’s Interview on CNN
In addition to the decline in unemployment, 418,000 more people entered the labor force, 873,000 more were working and 456,000 fewer were unemployed. Other positive indicators included fewer new claims for unemployment compensation, lower oil prices, higher labor productivity, more personal spending and retail sales, more auto and truck sales, larger number of housing starts and higher consumer confidence. Together, these developments produced the lowest rate of unemployment in three years.
The two tables below summarize the positive developments that have occurred. If this momentum continues, the unemployment rate should fall even further next month.
IMPROVED EMPLOYMENT SITUATION IN SEPTEMBER
BETTER ECONOMIC INDICATORS BETWEEN SEPTEMBER AND OCTOBER