According to NAI Global Chief Economist, U.S. economic recovery is well under way. He expects positive GDP growth for Q3 and 1% quarter-over-quarter growth for Q4. Almost all the metrics you would measure--housing starts, home prices, auto sales--except employment, bottomed out between February and July of 2009. "Jobs always lag by about 18 months, because you have to build up the profit momentum," he told participants in NAI Global's recent Quarterly Economic Briefing. "That profit momentum also bottomed out a year ago. We have had a year of positive profit growth. Therefore, we are about six months away from adding jobs."

Link back: http://blogs.naiglobal.com/nai_global/2010/01/job-growth-may-be-just-months-away.html Jan. 19, 2010

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