How Americans began to feel the growth of the economy

Low fuel prices, wage increases and an increase in job vacancies in the labor market are causing a smile on the faces of many middle-class Americans.

The middle class and low-income people feel more optimistic these days, according to a recent poll by the University of Michigan.

“The middle class spends less on heating their homes. Their job prospects have improved. Wage increases are outpacing consumer price increases,” says an economist at IHS Global Insight.

30-year-old Ox Rotimi feels confident now. A technology analyst by profession, he received an 5% salary increase this year and expects a further increase next year. He and his wife bought a house in Bowie, Maryland last year. Due to the decrease in fuel prices and due to the warm winter, he only pays 210 dollars for electricity and heating the house, which is 300 dollars less than last year.

Rotimi is also sure that he will not remain without work in case of dismissal. In 2010, he lost his job, and it took him months to find a new one. Now the situation is different.

“I feel like the economy is booming. We have money. We feel more secure because of the salary,” says Rotimi, a father of two sons.

In addition to home, Rotimi bought a new SUV, took a vacation and spent Christmas holidays with his family.

As Forum previously wrote, on December 16, the Federal Reserve System raised federal funds rate, setting it in the range of 0,25-0,5% per annum. This is the first time since 2006.