Recession, Gross Domestic Product | featured news

The economy grew at an annual rate of 2.5% in the three months ending Sept. 30, the government reported, easing fears that the nation would fall into a second recession but still too slow a pace to cut significantly into the high unemployment rate.

The gross domestic product number came in at a rather soft 2% growth, up slightly from last quarter’s 1.7%. From the standpoint of creating new jobs, 2% just doesn’t cut it. We need about 100,000 to 125,000 new jobs a month just to keep up with population growth and a 2% GDP will not give us half that, as we saw last quarter. Most economists say you need about 3.5% GDP growth to get solid job reports.