Lowering Economic Expectations
POSTED: Friday, June 3, 2011 - 5:21pm
UPDATED: Saturday, June 4, 2011 - 10:26am
Tyler, TX — Reports show lower wages combined with higher gas and food prices is creating an atmosphere of economic confusion amongst East Texans.
KETK spoke with several East Texans who are finding it hard to spot the silver lining.
Economists say this current economic climate and job market simply aren't growing as many analysts had expected. The lack of growth has led to a lack of confidence that East Texans say is going to be hard to get back.
After a much anticipated financial recovery many East Texans say the jobs simply aren't coming.
Texas Workforce Commission says the Texas unemployment rate reduced to 8% in April.
Still below the national average of 9% but some East Texans are still reeling from the recession.
With a lack of jobs comes a lack of confidence. So much so that a recent survey says consumers believe the chances of bringing home more money a year from now are at their lowest level in 25 years.
But financial analysts will tell you confidence is key to recovery.