Unemployment rose in January, but the Dow Jones also so high marks for the first time since the recession began. And these marks have some feeling our economy is headed in a positive direction.
How high can it go? That was the question many were asking of the Dow Jones as 2008 was coming to a close...And then... "The stock market is now down 21%" "Cause we're now down 43%." "What in the world is now happening on Wall Street?"
But recently the Dow Jones reached the 14,000 mark for the first time since that crisis despite seeing unemployment rise. But how is that possible?
Executive Director of Business and Economics at Utica College Dr. David Kiner says, "The numbers of discouraged workers in January of 2013 has actually decreased. So we have an awful lot of people and therefore employers who are feeling better about things even though the unemployment rate is up,"
The Dow has teetered around 14,000 points and many economists say that's an important mark. Dr. Kiner says, "That was our bench mark, I think we we're up to 14,150, in that neighborhood and all of a sudden it went away. So 14,000 takes us back I think that's the point, I've regained my strength says the American public."
The average time Americans spend on the unemployment line is decreasing and many experts say that could be one indication our economy is headed in a good direction. Dr. Kiner added, "Our best guess from an economic perspective is that we're in fairly good shape now."