A Beagle Research Short Poll during December shows that a large majority of Beagle Research readers believe that the economic recovery has started. Eighty percent of those polled say they believe that a recovery has begun. The strong showing confirms important data announced by the U.S. Labor Department on Friday.
According the Labor Department the U.S. economy added 103,000 jobs in December bringing the unemployment rate down to 9.4 percent. Jobs are traditionally a lagging indicator.
Most importantly this was not a one-time event. October and November each showed upticks in employment and the revisions announced at the same time as the December numbers paint a story of improving jobs growth through the fourth quarter. The revisions looked like this—October: from +172,000 jobs to +210,000; for November +71,000 from +39,000.