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Banker: More Jobs Needed To Fix Economy
Univest Senior Vice President of Investments Bill VanSant says he sees mixed signals on the economy. He says consumer confidence has dipped to its lowest level in 2 1/2 years while housing starts are up, but only by a little bit, and it will take a long time for the housing market to recover.
“That’s going to be a big ship to steer, and people aren’t really going full bore into that market, and I think it has a lot to do with confidence, especially if there’s any potential issue with employment or they feel that their job is not stable, so that definitely affects those numbers, but at least you’re seeing retail sales have been trending up, so that’s an encouraging sign, but not at the capacity that everyone would want to really get this economy moving.”
VanSant says Ford’s latest sales numbers are up, so people are buying American cars, but even companies that are doing well are not hiring, and they need to create more jobs if the economy is to fully recover. He appeared Wednesday on the WNPV talk program Comment Please by Univest.”