Positive Signs for the U.S. Economy<br /><ul><li>Leading indexes are rising sharply, suggesting accelerating growth.
Stock market has regained two-thirds of the value lost during the last plunge.
Spread between 3-month LIBOR and T-bill rate signals little, if any, stress in the credit markets.
Despite recent declines, home prices have been generally stable since March 2009.</li></li></ul><li>Puget Sound RecoveryThree Things to Think About<br /><ul><li>Puget Sound region was hard-hit by the recession and will likely trail the nation coming out of it.
In terms of jobs, the root of the recession was construction and financial activities.
The recession was far-reaching, damaging almost every state.</li></li></ul><li>The Great RecessionEmployment Change<br /> Puget United<br /> Sound States<br />Peak to trough (quarters) 8 7<br />Employment (% change) -7.4 -6.0<br /> Construction -34.1 -27.3<br /> Financial activities -17.1 -9.2<br />Peak unemployment rate (%) 9.1 10.0<br />Unemployment rate (% change)* 5.1 5.5<br />*Percentage point change.<br />
Puget Sound and U.S. EmploymentAnnual Percent Change<br />
Exports of Goods and Services<br /><ul><li>On a per capita basis, Puget Sound region tops the nation in foreign exports.
Boeing and Microsoft are our two biggest overseas sellers.
Since the mid-2009 turnaround in U.S. real GDP, exports have been the fastest growing sector.
The regional impact of export growth will be muted, since Boeing is close to peak production.</li></li></ul><li>Government Expenditures<br /><ul><li>The federal government was the only positive growth force during the Great Recession.
With the focus now on balancing the budget, it will reduce spending and trim employment.
Due to a record drop in tax revenue, state and local governments will also cut expenditures.
Financial problems in the public sector will cost the region 10,000 government jobs.</li></li></ul><li>U.S. Fixed Investment<br />
U.S. Real Gross Domestic Product andPersonal Consumption Expenditures<br />