U.S. economy continues recovery, tops pre-recession income highs

America is back at work, economist says

Jim Glassman

The U.S. economic recovery is in the top of the 9th inning but still has extra innings to go in the third longest economic expansion in U.S. history, the top economist for the nation's biggest bank told Chattanooga business leaders Tuesday.

"I think we're going to look back on this as one of the best economic recoveries in our history," said Jim Glassman, managing director and head economist for commercial banking at JP Morgan Chase & Co. "We hear politicians say we've got to do something to get people back to work, but America is back to work."

The stock market and total employment is at an all-time high and on Tuesday the Census Bureau reported that median household income, adjusted for inflation, rose another 3.2 percent last year to reach a new high of $59,039.