Dow Jones Had Highest Close in a Year

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Story Published: Oct 14, 2009 at 11:42 PM PDT

By Stacy Lilienthal

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It's a number many see and a signal the economy may be turning around.

The Dow closed above 10 thousand points Wednesday for the first time in a year. We asked local finance and economics expert John Lasik at Central Washington University if it's really time to celebrate the end of our economic slump. He answered, "Something like 47 out of the 50 states are having budget stress, and we hear about that in the state of Washington all the time. So we're a far cry from being out of the woods into a recovery to where we have a robust sustained growth period. But because I'm an optimist, I'll say it will happen. It will happen within the next year, perhaps 2 years."

Other indicators show we're not out of the red yet. The unemployment rate in Washington is up slightly. While it's better than this time last month, it's worse than last year. Home sales in Washington and across the country are rising, but very slowly.

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