According to the latest economic news, the US economy is slowly recovering from the Covid-19 pandemic. The unemployment rate is down to 6.3%, and the stock market is slowly climbing back up. The inflation rate is also rising, but it is still below the 2% target set by the Federal Reserve.According to the latest economic news, the US economy is growing at a slower pace than expected. The main reason for this is the trade war with China. Other factors include the high cost of living and the slow pace of wage growth.The United States economy is currently in a period of expansion, with GDP growth and job creation both trending upwards. However, there are a number of challenges that could impact the economy’s future trajectory. One major challenge is the ongoing trade dispute between the United States and China, which has led to tariffs being placed on a number of imported goods. Another challenge is the potential for interest rates to rise, which could impact both consumers and businesses. Despite these challenges, the economy is currently on solid footing and is expected to continue growing in the coming months.According to the latest economic news, the US economy is doing well. The stock market is up, unemployment is down, and inflation is under control. The housing market is also doing well, with prices rising and new construction being started. Overall, the US economy is in good shape and is expected to continue to grow in the coming year.According to the latest economic news, the global economy is slowly recovering from the Covid-19 pandemic. However, there are still many challenges that need to be addressed. For example, unemployment remains high in many countries and businesses are struggling to survive. In addition, inflation is a concern in some countries.According to the latest economic news, the US economy is slowly recovering from the Covid-19 pandemic. The unemployment rate is slowly falling and more people are finding jobs. The stock market is also slowly recovering. However, the economy is still not back to where it was before the pandemic.According to the latest economic news, the US economy is doing well. The stock market is up, unemployment is down, and inflation is under control. The US economy is expected to continue to grow at a moderate pace in the coming year.According to the latest economic news, the US economy is slowly recovering from the effects of the pandemic. The unemployment rate is falling and businesses are starting to reopen. However, the economic recovery is expected to be slow and uneven. Some sectors, such as tourism and hospitality, are still struggling.The U.S. economy added a robust 228,000 jobs in November, capping a year of steady gains that have finally begun to translate into faster wage growth for workers.
The jobless rate ticked up to 4.1 percent from a 17-year low of 4 percent in October, the Labor Department said Friday, as more people began looking for work. The number of unemployed people rose to 6.6 million.
Average hourly wages increased 3 cents to $26.55, following a 12-cent gain in October. That lifted the year-over-year pay increase to 2.5 percent, the best in nearly a decade.
The solid job growth is likely to keep the Federal Reserve on track to raise interest rates in December for the third time this year. The Fed has penciled in three rate hikes in 2018.
The November job gains were widespread, with manufacturing, health care, construction and transportation all adding jobs. Retailers cut jobs for the second straight month.
The economy has added an average of 179,000 jobs a month this year, down from 187,000 in 2016 but still enough to lower the unemployment rate over time. At the current pace of job growth, the economy will eventually reach “full employment,” or a jobless rate that reflects the number of people who are unemployed because they’re between jobs or just starting to look.
The economy is close to full employment now. The so-called “natural” rate of unemployment — which excludes people who are temporarily out of work — is thought to be around 4.6 percent.
When the job market is this tight, employers typically have to offer higher pay to attract and keep workers. That’s finally starting to happen.
Average hourly pay has risen 2.5 percent over the past 12 months, the best since the Great Recession ended in 2009. That’s still below the roughly 3.5 percent annual pay increases that workers enjoyed in the late 1990s, when the job market was similarly tight.
But pay is rising more quickly for lower-wage workers than for those at the top. That’s helping to reduce income inequality and is giving more Americans the confidence to spend, which drives about 70 percent of economic growth.
Consumers stepped up their spending in the July-September quarter at the fastest pace in three years. And they appear to be carrying that momentum into the final three months of the year.
Retail sales rose a healthy 0.8 percent in October, the government said Thursday. And a survey of service companies, which make up 80 percent of the economy, showed that they expanded at a solid pace in November.
The economy is being helped by solid gains in home construction and sales. Americans are also benefiting from a strong stock market and from a federal tax cut that is likely to increase paychecks in 2018.
The tax cut will probably provide only a modest boost to growth next year, economists say. But it could cause the Fed to raise rates more quickly to prevent the economy from overheating and igniting inflation.