CNN: things aren't always as good as they seem

From CNN online:

For many Americans, all the good news in the larger economy isn't translating over to everyday life.

Only 24% of the public believe economic conditions are improving, while nearly four-in-ten say the nation's economy is actually getting worse, according to a recent CNN poll. Meanwhile, the Consumer Confidence Index declined two months in a row.

The economy still feels depressing because for many people, it is, said Elise Gould, a labor economist at the liberal-leaning Economic Policy Institute.

"Those at the very top have bounced back, but we have not seen that for people at the middle or at the bottom," she said...

Sure, companies are flush with cash, but workers' wages are up only about 1% from a year ago, making it harder for average folks to make ends meet. Union-led strikes by fast-food workers are on the rise...

About 11 million Americans remain unemployed, and 37% of them have been out of a job for at least six months....

With the Fed's decision to begin pulling back on economic support for the economy, mortgage rates will likely continue to rise, making homes less affordable for average Joes.

So yes, there are positive signs in the economy that will hopefully continue.

But will 2014 be the economy's breakout year? Probably not, says Jim O'Sullivan, chief economist for High Frequency Economics.

"The word 'break-out' is too strong," he said. "We're four-and-a-half years into the recovery, and if we haven't got a V-shape recovery now, we're certainly not going to get one."

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Link:  http://money.cnn.com/2013/12/18/news/economy/economy-outlook/index.html?