No retraction yet

The economy isn't supporting Democratic party aspirations as well as it might.  The recent economic downturn has so far not developed into a recession as we head towards the November elections.  In fact, it's actually growing, at a slow rate I'll admit.

WASHINGTON (AP) - The bruised economy limped through the first quarter, growing at just a 0.6 percent pace as housing and credit problems forced people and businesses alike to hunker down.

The country's economic growth during January through March was the same as in the final three months of last year, the Commerce Department reported Wednesday. The statistic did not meet what economists consider the classic definition of a recession, which is a retraction of the economy. This means that although the economy is stuck in a rut, it is still managing to grow, even if modestly.

On top of that, the brief erosion of jobs has unexpectedly come to an end.  Companies added 10,000 jobs in April.

April 30 (Bloomberg) -- Companies in the U.S. unexpectedly added 10,000 jobs in April, a private report based on payroll data showed.

The increase followed a revised 3,000 gain for the prior month that was less than previously estimated, the report from ADP Employer Services showed today...

...The ADP report was forecast to show a decrease of 60,000, according to the median estimate of 25 economists surveyed by Bloomberg News. Estimates ranged from a drop of 115,000 to a decline of 20,000.

So an expected loss of jobs didn't materialize, and we'll soon see how the economy responds to the summer season and the government's $168 billion economic-stimulus package that has started landing in peoples' bank accounts this past Monday.