According to the latest economic news, the US economy is currently expanding at a moderate pace. The labor market remains strong, with unemployment at a historically low level. Inflation is still low, but is expected to begin rising later this year as the economy continues to strengthen. Overall, the economy is in good shape and is expected to continue growing steadily in the coming months.The current economic news is that the economy is slowly recovering. The unemployment rate is down and the stock market is slowly rising. The housing market is also slowly recovering.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.The current economic news is that the economy is slowly recovering from the pandemic. The stock market is slowly rising and unemployment is slowly falling. The housing market is also slowly improving.The U.S. economy added a robust 312,000 jobs in December, capping the best year of job growth since 2015 and delivering a clear signal that the economy entered 2019 with strong momentum.
The job gains were widespread across sectors, with manufacturing, construction, health care, transportation and warehousing all posting solid gains. The unemployment rate ticked up to 3.9 percent from 3.7 percent in November, but that was because more people were looking for work, a sign of confidence in the job market.
Wage growth also accelerated last month, with average hourly earnings rising 3.2 percent from a year earlier, the biggest annual gain since April 2009. The pickup in wages suggests that businesses are starting to feel pressure to pay workers more to find and keep them.
The strong jobs report is likely to keep the Federal Reserve on track to gradually raise interest rates this year as the economy continues to expand. The Fed raised rates four times in 2018, and Fed Chairman Jerome Powell has signaled that the central bank is likely to do so two or three times this year.
The solid job growth in December means that 2018 was the best year for job gains since 2015, when the economy added 2.7 million jobs. For all of 2018, the economy added 2.6 million jobs, an average of 218,000 a month. That’s down from the average of 227,000 a month in 2017, but it’s still a healthy pace of job growth.
The job gains in 2018 were broad-based. Manufacturing added 284,000 jobs last year, the most since 1997. The transportation and warehousing sector added another 140,000 jobs, and construction added nearly 300,000.
The job market is likely to stay strong in 2019. The economy is being helped by the $1.5 trillion tax cut that President Donald Trump pushed through Congress in late 2017. That has boosted consumer and business spending and helped increase economic growth.
The economy is also getting a lift from Trump’s decision to step up spending on the military and infrastructure. And the Fed’s decision to keep interest rates low has helped keep borrowing costs down and supported economic growth.
All of this has led many economists to forecast that the economy will grow at a solid pace this year, perhaps as much as 3 percent. That would be the best performance since 2005.
The strong job market is also likely to keep the Fed on track to gradually raise interest rates this year. The Fed raised rates four times in 2018, and Fed Chairman Jerome Powell has signaled that the central bank is likely to do so two or three times this year.
The Fed’s next meeting is Jan. 29-30, and no change in rates is expected at that time. But Powell is likely to reiterate the Fed’s plans to keep raising rates gradually as the economy continues to expand.