According to the latest economic news, the US economy is still struggling to recover from the pandemic. The unemployment rate remains high, and many businesses are still struggling. However, there are some signs of improvement, and the stock market has been doing well recently.The U.S. economy added a robust 164,000 jobs in July, easing fears that a recent spate of weak economic data might signal a sharp slowdown.
The solid job gains, along with a small uptick in wages, suggest that the economy is still expanding at a moderate pace despite headwinds from a strong dollar and weak global growth.
The unemployment rate ticked up to 4.9 percent from 4.8 percent in June, but that was largely due to more people entering the labor force in search of work.
Overall, the July jobs report was largely positive and should help ease concerns that the economy is losing momentum.
In July, job gains were led by the healthcare, retail, and food service industries. Healthcare added 45,000 jobs, retail added 31,000 jobs, and food service added 30,000 jobs.
The manufacturing and construction industries, which have been hurt by the strong dollar and weak global demand, both posted modest job gains in July.
The July jobs report was the first since the Brexit vote, and it showed that the U.S. economy is still chugging along despite the uncertainty created by the UK’s decision to leave the European Union.
The jobs report was also the first since the Federal Reserve’s June meeting, at which the central bank decided to keep interest rates unchanged.
The solid job gains in July are likely to keep the Fed on hold at its next meeting in September.
Current economic news is that the U.S. economy added a robust 164,000 jobs in July, easing fears that a recent spate of weak economic data might signal a sharp slowdown. The solid job gains, along with a small uptick in wages, suggest that the economy is still expanding at a moderate pace despite headwinds from a strong dollar and weak global growth.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 growing at a slower pace than expected. The Gross Domestic Product (GDP) grew at an annual rate of 2.1% in the first quarter of 2019, down from the previous estimate of 3.1%. The slowdown was mainly due to a decrease in consumer spending and business investment. The good news is that the labor market is still strong, with unemployment remaining at a historic low of 3.6%.According to the latest data released by the Bureau of Economic Analysis, the U.S. economy grew at a slower pace in the first quarter of 2019 than previously estimated. The gross domestic product (GDP) rose at a seasonally adjusted annual rate of 3.1 percent in the first quarter, down from the 3.2 percent growth rate reported last month.
The downward revision was primarily due to a smaller increase in consumer spending than previously estimated. Consumer spending, which accounts for more than two-thirds of GDP, rose at a 2.9 percent pace in the first quarter, down from the 3.1 percent growth rate reported last month.
The slower pace of growth in the first quarter is in line with economists’ expectations for a moderation in growth this year as the effects of the tax cuts enacted in late 2017 begin to fade. The economy grew at a 2.9 percent pace in 2018.
Despite the slower pace of growth in the first quarter, the economy is still on track to expand at a solid pace this year. The Federal Reserve is forecasting GDP growth of 2.1 percent in 2019.