Is The Economy Really Getting Better For Most NJ Residents? [AUDIO]

The economy certainly seems to be getting better - unemployment is dropping and the stock market is gaining momentum - but financial experts warn we're definitely not out of the woods yet.

Rutgers University economist James Hughes says "the economy remains fragile, because even though employment growth has accelerated substantially over the past year…the last time gas prices hit this level it really did cause a slowdown…gasoline prices, if they do head to 4 dollars a gallon- could provide a very, very severe problem going forward…however counter-balancing that currently has been the decline in natural gas prices, and a very mild winter."

He points out "certainly the Iran situation could really have a negative impact on the economy - we do have somewhat of a slowdown in China, which could reverberate through the United States, the European debt crisis is still not resolved and that may well be a long term risk that we'll have to confront - so we have a fragile economy, and it's a very risky world out there."

Hughes adds with all of these potential problems, it's somewhat ironic that "all of this global risk makes the U.S. a much more attractive place for investment…resources and currencies flowing into U.S. are still pushing dollar yields lower, which benefits not only the U.S. Treasury, but also those seeking mortgages."