The US economy has been expanding since June 2009. But as recently as March, some survey data showed that 57% of Americans still thought the economy was in recession. That’s understandable: The generalized collapse of the US job market during the Great Recession inflicted serious pain that many still haven’t recovered from.
But finally, amid a recent surge in job creation, there are signs that Americans are starting to feel the impact of the steady economic improvement over the last five years. In June, the Conference Board’s measure of consumer confidence jumped to its highest level since January 2008, according to just-released numbers. (Of course, the gauge remains well-below pre-crisis levels. But the improving trend is clear.)
Likewise, previous data has shown the mood among US small business owners hitting a post-crisis high.
There shouldn’t me much of a mystery here as to why people are feeling more upbeat. The jobs picture is improving markedly.
