Apprehension despite record stocks, low unemployment rate

NORTHAMPTON, Mass. (WWLP) - Stocks closed out a historic week with another day of gains Friday. This along with the lowest unemployment rate in four years has the White House saying the economic recovery is gaining traction. However, many are still timid.

For the first time in four years the national unemployment rate dropped to 7.7% and these past few years it's been difficult for many businesses to expand.

But just two months ago Bud Stockwell was able to open up a new kiosk outside of his food store, Cornicopia in Northampton and the new jobs had people flocking.

“When we have a need we try and fill it and we always get 50-100 applications for any application we put out there,” said Stockwell.

The government's February unemployment rate brought some encouragement during a week when the stock market broke records.

“I do feel things are getting better, I think the economic policies of the president are finally working. He said they'd take time and it did take time and things are only going to get better,” said Bill Benson of Greenfield.

For Bud's store and other small businesses, consumer confidence is a huge part and he isn’t letting his guard down yet.

“While it may look like a rosy picture, I'm still a little trepidatious. I feel like our leaders need to get their political house in order and start inspiring some confidence,” said Stockwell.

The White House economist did note, this new unemployment rate was measured before the $85 billion in automatic budget cuts started taking effect.