Is the Economy Getting Better? A Look Into Today’s Economic Climate
Are we seeing improvements in today’s economic climate? This article discusses the question, “is the economy getting better?” so keep reading to learn more.
The economy today is almost impossible to make heads or tails of. By all official metrics, the state of the economy is improving. The GDP has been climbing steadily, year after year, even with COVID-19.
Looking at other financial news can show an entirely different picture, though. With the increasing prevalence of things like “quiet quitting” and rampant inflation, to name but a few of the endless complexities, answering the question “is the economy getting better?” isn’t quite so simple.
So, is the economy getting better? We’ve dug a bit deeper to bring you a straight answer!
Is The Economy Getting Better?
The short answer to “is the economy getting better?” is … it depends on whom you ask.
It depends on what you mean by better.
Stocks Are Up
Despite the ravages to the economy due to COVID-19, the stock market has remained relatively strong throughout the last two years. That’s one of the reasons the state of the economy is so hard to chart, as it turns out the stock market isn’t always reflective of the entire economy.
One thing that’s safe to say is that the economic climate is ideal for investors. If you’ve been thinking of getting into the stock market, this would probably be an excellent time to do so if the trends of the last two years are any indication.
GDP Is Down
Here’s where some of the confusion comes in. While the stock market has been steadily trending upwards, the Gross Domestic Product has been devastated over the last several years. 2020 saw the worst quartet in American economic history since 1948.
2021 was slightly better, but that was largely due to the devastation of 2020.
That’s one thing that makes investing in today’s world so tricky and confusing. It seems that valuation has become completely divorced from productivity. It makes making sense of it all very difficult indeed.
Consumer Confidence Is Also Down
Since we can’t rely solely on traditional metrics, charts, and graphs, how are people feeling about the economy recovering in the wake of the pandemic?
Sadly, this also doesn’t look good. According to a recent report from the Wall Street Journal, 80% of consumers feel the economy currently is either “poor” or “not good.” This is largely to do with inflation.
In addition, over 35% report feeling dissatisfied with their current economic situation.
One thing is for certain, the economy is in flux. People are shifting jobs at a record pace, seeking the right money and work/life balance. If you’re in the market to hire some exceptional new employees, this is an excellent time to do so.
Are You Recruiting Or Hiring?
The supply chain has been decimated in the wake of the pandemic. Everyone from shipping companies to the manufacturing industry lost some of their best professionals.
Now that you know a bit more about the question “is the economy getting better,” contact us today and let us know how we can help you fill your recruiting needs.