Economy growth still slow in 2012

SPRINGFIELD, Mass. (WWLP) - The economy is still weak and Americans remain unemployed and continue to spend less.

2012 has been a slow year for economic growth; unemployment remains high and consumers are still spending less.

“I definitely do cut back, but it is definitely on luxuries, like going out and buying clothes and stuff like that,” Sarah Carver of Agawam said.

Although the economy is slow, the Federal Reserve and its chairman, Ben Bernanke decided to keep interest rates the same, but they'll stay at these record low levels until the second half of 2014.

“It's really not apparent that the situation's bad enough to really waste the ammo,” said Economist Edward Yardeni.

“My husband and I just bought our first home so we have been able to reap that benefit. This has enabled us an opportunity that we probably wouldn't have had when the interest rates were a lot higher,” Tami Davis of Enfield said.

Unemployment remains high which is a major concern, not just among government officials, but voters as well.

“They should do a lot more. They should make a lot more jobs. There are a lot of people out of work,” Darrell Barkley of Springfield said.

We'll find out just how bad it is for those out of work when the Labor Department releases the jobs report Friday. Economists expect that 100,000 jobs were added in July, but the unemployment rate could stay the same.