Do yourself a favor and listen to this short NPR interview with billionaire investor Wilbur Ross, who neatly sums up what's really happening with the economy.
1)No recession, but the economy is just bumbling along with no particular sense of direction.
2)The big drop in oil prices will be helpful.
3)Unemployment will remain high because companies have learned to live with fewer employees per incremental dollar of sales.
4)The educational system isn't turning out people who are attractive to employers.