After suffering from the worst economic recession in history, the economy is showing greater signs of recovery. Today, the Bureau of Labor Statistics released its March jobs report, showing that last month, over 160,000 new jobs were created--the biggest one-month jobs gain in the past three years.
Although the unemployment rate is still at a high of 10 percent, this is a great step forward. During the first three months of 2009, on average we were losing 753,000 jobs per month. Today, we learned that in the first quarter of 2010, our economy grew by an average of 54,000 jobs per month.
No one said that fixing the economy was going to be an easy task. After all, it took the last president 8 years to ruin it in the first place.
What this slight improvement in our economy shows us is that America is finally able to dig itself out of a deep hole and is beginning to see the light at the end of the dark tunnel.
This is in large part due to the Recovery Act passed by Obama during the first month of his presidency. It is because of this effort that we can say that today, the economy actually created thousands of new jobs instead of loosing thousands of jobs.
Yes it is still a work in progress. But it IS progress.
What did the recovery act do? I think it’s obvious.