Updated: 04/27/2009 9:13 PM KSTP.com | Print Story
By: Art Barron

BARRON: Positive signs of possible economic recovery

Despite the news that thousands of Best Buy store employees could either see their jobs or wages cut, there is some good news that is being reported that the number of newly laid off Americans requesting unemployment insurance benefits fell last week.

Analysts say it is a sign that job cuts could be easing. Labor Department says initial jobless claims dropped to a seasonally adjusted 610,000 from a revised figure of 663,000 the previous week.

All of us who are concerned about the well being of hard working Minnesotans and the nation as a whole look for any possible signs that things may be turning around.

Other positive signs are being reported. Goldman Sachs and Wells Fargo reported "better than expected earnings" a sign that the banking sector might be stabilizing. Then there is this "good news" item...JPMorgan Chase and Co.'s first quarter profit topped analysts' expectations. Although lower than last year's first quarter profit... analysts  expected earnings of 32 cents a share, instead it is at 40 cents a share.

Sure there are still mixed signals in the economy, and there is a long road to recovery, and we get a dose of reality as word comes that General Growth, the nation's largest mall operator, filed for chapter 11 bankruptcy protection.

So, depite some of the mixed news, embrace the good news.   A Federal Reserve report does indeed show glimmers of hope in U.S. business conditions.