America waking from long national nightmare

In February, the U.S. economy added 48,000 construction jobs, boding well for the country's housing market. The collapse of the U.S. housing market in 2008 is widely considered the trigger for the Great Recession. /Image via commons.wikimedia.org


Unemployment falling, housing market healing, stock market soaring, the dollar strengthening. Could this be morning in America?

The U.S. economy added 236,000 jobs in February, 70,000 more than forecast. Construction was a top job creator, with 48,000 new jobs last month, a strong indicator of the recovering housing market. The Dow Jones Industrial Average has posted gains for nine days in a row for the first time in 16 years. And the dollar is strengthening against other currencies based on several factors, including growing confidence about the U.S. economy around the world.

Before you start pouring mimosas to celebrate the dawn of hope in America, uncertainties remain:
- A hot war in Afghanistan as well as brewing conflicts with Iran and North Korea.
- The impact of $85 billion dollars in federal "sequester" budget cuts and continued dysfunctional leadership in Washington.
- Europe's ongoing debt crisis.
- And the potential for continued anemic job growth as employers rely on automation, outsourcing and productivity gains to avoid hiring full-time employees.