Read somewhere that most people don't follow economic indicators. They just care if they have a job and do they have money in the bank. Just ask people how secure they feel about finding or keeping their jobs and that's how people vote.
Well, obviously having a job and money is numero uno. But they were saying on the news today that consumer confidence is way up, and that it's largely based on people having more money and feeling better about the economic indicators.
What I said still holds. Consumer confidence is up, the economy seems to be recovering, but polls still show people feel that the economy isn't great. Only politicians and economists care about economic indicators.
Except that despite the fact that the economy has been in "recovery" for two years now, there has been almost 0 job growth, and there continues to be very little. In fact, companies are still laying people off and it's very hard to get a job.
Well, there's a difference between recovering slowly, as we have been for two yearsish, and actually turning a corner in the economy. This is the first big jump in some time now, but economists are hoping the next quarter numbers stablize in the 4% range. Sustained growth is what makes the difference in job creation, especially when you have unstable times and skittish prospective employers.
According to most economic models, if we really were in recovery, the economy would be expanding rapidly at this point either nearing another peak, or simply heading up. Thousands of jobs would have been added, and unemployment would be down significantly.

However, I think that for the past two years we haven't really been in a recovery, so much as a slow economic expansion, which explains the continued rise in unemployment.