The economy is a hot button issue this election season. Fox 29 financial expert Dan Roccato, of Quaker Wealth Management, says there's good news and bad news on the economic front this summer.
On the plus side, and welcome news for many people planning to travel this summer, gas prices are falling. According to AAA, the national average for a gallon of regular unleaded gasoline is $3.53. That's down 17 cents from last month. Roccato says that translates to $17,000,000,000 back into the pockets of consumers.
However, the bad news is still the unemployment situation. The job market is stuck in neutral, and it's really affecting teen workers. About 70 percent of teens are unemployed this summer. That's the worst rate since World War Two. Roccato says teens are competing with older workers for jobs. As a result, more teens are choosing to attend summer school, travel, play sports or do other things besides work this summer.
The long-term unemployed have also been hit hard. After one year of unemployment, only about 10 percent of workers are finding jobs. The Labor Department says it's taking Americans, on average, about 40 weeks to find a job.
No doubt the candidates will be touching on these issues and much more leading up to this November's elections.
