With more people working, more consumers will have money to spend to boost the economy.
"The last missing link to a stronger recovery was income growth, and now we are seeing that," said Joel Naroff, chief economist at Naroff Economics.
Unexpected events might yet prove that analysts are overly optimistic. But at the moment, economists don't expect the standoff with Russia over Ukraine or
the Federal Reserve's paring of its economic stimulus to destabilize global markets or derail the U.S. recovery.
Naroff said the consensus view might even prove too pessimistic. He said he thought economic growth could achieve a vigorous 4.4 percent annual rate in the
April-June quarter if pent-up consumer demand tops estimates. And he said growth could exceed 3.5 percent in the second half of this year.
"Once we get past this winter of our discontent, things should be looking a lot better," Naroff said.
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