That’s right, the recession is finally over! Now it’s time for things to get back to normal. Today’s job report announced that there were 288,000 more Americans added to payrolls. This is far more than the estimates projected by economists. The additional new jobs created helped drop the unemployment rate down to 6.1%. Additionally, after a dismal performance during the first quarter of this year, GDP in the second quarter is expected to come in at a healthy 3%.
New construction activity is also on the rise. According to data released by the National Association of Home Builders, sales of newly built, single-family homes rose 18.6% to a seasonally adjusted annual rate of 504,000 units in May, the highest rate since May 2008. This new activity will lead to a further decline in the unemployment rate as new construction jobs are added and stronger GDP activity for the remainder of this year.
There are many other indications that the economy has finally turned the corner. The Dow Jones Industrial Average is currently at a record high of almost 17,000, corporations are flush with cash, interest rates are still low, real estate values have recovered, and housing starts have posted positive gains each month.
Best of all, there’s still plenty of room for improvement, which we expect to see in the coming months. For anyone still unsure about buying or selling a home, it’s finally time to move forward with plans that will improve the quality of your life.
After all, the one commodity that is limited for everyone is time. Making time to enjoy your life is what it’s really all about, isn’t it?