Hell Yes America

Finally the rate of job cuts has slowed down and things could be looking up? Thats right, the ADP estimated that the worst of job cuts is over during this recession as there were less job cuts reported in April than in the previous months of 2009. Some are even drawing optimistic projections from this report via the ADP.

“We’re seeing a very clear bottoming pattern,” said John Herrmann, chief economist at Herrmann Forecasting in Summit, New Jersey. “This holds out the possibility that the fiscal stimulus, along with consumers resuming more normal spending patters, will lift the economy into positive growth in the second half.”

Overly optimistic? no one knows. In this day and age economic forecasting is nearly impossible; With the rise in globalization and the high amount of currency trade coupled with tangible good trade there are too many factors to truly get a predictive read on the economy. Things are far more complicated for economic forecasters than they were in the first 2/3rds of the 20th century when there was a finite number of factors to consider and weigh. This is truly evident in our inability to project the recession we are currently in and avoid it. Nontheless, we can only hope for the best and pray Mr. Herrman is correct.