
Here’s the cliff notes summary of the economy from Larry Kudlow’s column of December 26th:
“Calendar year 2007 looks set to produce 3% growth in real GDP, nearly 3 % growth in consumer spending, and over 3% growth in after-tax inflation-adjusted incomes. Meanwhile, headline inflation (including food and energy) will have run at 2.5%, with only 2% core inflation.
Jobs are rising over 100,000 per month and the stock market is set to turn in a respectable year despite enormous headwinds. Low tax rates, modest inflation, and declining interest rates continue to boost Goldilocks, which is still the greatest story never told."
Kudlow refers to the economy as the “Goldilocks” economy- “not too hot, not too cold, just right.”
If he and other economists are right about forecasting growth of 2% GDP in 2008, then the US economy will add 1 to 1.5+ million jobs in ’08, driving unemployment to historic lows. As an fyi, at 4.8% the current rate is less than the average rate for the entire decade of the 1990’s, which was 5.2%.
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As a key advisor to job seekers, this is a great time to re-connect with your clients, help them focus on job search and related issues, get ready for prime time in January! Get them motivated and moving forward!
What Color is Your Parachute? author Dick Bolles offers support and comments on Work Ministry in the 2008 edition of his upcoming book! Thanks for your support Mr. Bolles!
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