Local firm says economy not likely to improve before next summer - KMOV.com

Local firm says economy not likely to improve before next summer

(KMOV) – A new report shows those who have a job do not necessarily have job security, and a local firm says the number of recent layoffs proves that the economy is weak.

News 4’s Marc Cox talked with Joel Prakken from Macroeconomic Advisors, a local St. Louis firm, that analyzes the economy for leading politicians and companies.  Prakken said the firm is not optimistic that it will see any major improvements until possibly next year. 

The latest layoff numbers are surprising and caught many who monitor the business world off guard. 
 
In June, 66,000 positions were cut at large U.S. companies such as Lockeed Martin and Merck.
 
News 4 found that the recent debt limit negotiations did not give the business world any confidence and played a role in recent job layoffs.
 
Illinois Senator Mark Kirk said that congress deserves a lot of the blame.

Despite the loss of thousands of jobs, companies are still making money, but waiting for the economy to bounce back.   

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