The Improving Economy

I've been seeing all kinds of articles about the "Bush Boom" as the current nascent recovery is being called in some quarters. And now, Gallup is reporting that a majority of people (53%) believe that the economy is improving. Count me among those that believe it is getting better.

I can say that because, after several months of looking, I finally found a new job. In two weeks, I'll finally be able to start a job, which pays more, but requires less responsibility. But it points to a larger problem in the economy today.

Unemployment has been getting better, jobless claims are down, but there is a growing issue with people who are underemployed. The underemployed are people like me, who have degrees, have experience, and yet can't find a job that takes advantage of and compensates us properly for our skills. This new job, while paying better than the one I'm leaving, doesn't pay as much as I made just 2 years ago and still doesn't allow me full rein to use all my knowledge and skills.

I know that I'm not the only person in this position. I've got friends who are in similar positions. Even the Gallup poll found that "73% of those surveyed said now is not a good time to be looking for a 'quality' job."

That means that there is a large segment of the employed population that is not being used in the most efficient and expedient manner possible. Which means that our economy, despite the improving GDP numbers, is still not firing on all cylinders. We could be doing a lot better.

I believe that if we don't start to see improvements in the quality of jobs available and a decline in the underemployed then the recovery will eventually stall out. I got lucky and was able to move up on the job quality matrix. Many others are not so lucky. There needs to be an across the board improvement.

Or else the economy could still be a big issue in '04.