[/caption]The Washington Post is reporting that the consumer confidence was the lowest since all the way in February because of the high jobless rate. Consumer confidence is a major measurement of how the economy is fairing – if the consumers confidence is high, it means that the people will go out and spend their money, which will fuel the many stalled engines of our economy.
Important indices affecting our economy include the current reading of a 50.4 drop in consumer confidence, as opposed to the 54.3 high in June; in addition, home prices rose some 20% in the Spring among twenty states… with the consumer taking advantage of the Federal Tax credit.
These good indices are not expected to last if the unemployment rate remains at around 10%, and the growing stock pile of foreclosed homes is a constant negative, which will keep the economy in a rut.
The desired lower jobless rate correlation to economic recovery is obvious - if the vast number of the public is gainfully employ, then the font of money flows, which in turn provides the fertilizer for the seeds and growth of our recovery. Jobs provide the means for the consumer to purchase a home and if enough do so, then it trickle downs to various important contributing factors to the economy.
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