COLUMBUS, Ohio -- A local financial analyst said the recent drop in stock value, plus the rise in unemployment is not an indication that a recovery from the recession is over or even premature.
Bradley Huffman of Future Finances, Inc. of Columbus said the setbacks are expected.
"What you're seeing is a reality check," Huffman said. "Any normal market is going to have some retracement ... hiccups along the way."
He said recent unemployment rises can be traced to the fact that people no longer spend money like they used to.
"If everyone saves, it hurts the economy" Huffman said.
He said personal savings are up 6 to 7 percent.
Before the recession, personal savings were in the negative numbers.
He also claimed the recovery could take years.
"It's not going to be a sprint from here," he said.
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