Economists have forecast that employers added a solid 185,000 jobs in March and that the unemployment rate dipped from 4.1 percent to a fresh 17-year low of 4 percent. Was that enough to boost pay?
The Commerce Department said February’s modest spending increase followed an equal gain in January and a rise of 0.4 percent in December.
The U.S. economy grew at a solid 2.9 percent annual rate in the final three months of last year, a sharp upward revision that shows a third straight quarter of healthy growth.
Consumer prices increased at 0.2 percent pace in February, underscoring that inflation pressures appear to be muted for now.
For the year, GDP rose 2.3 percent, a significant pick-up from 1.5 percent in 2016, which had been the slowest annual growth rate since the economy contracted in the recession year of 2009.
A wave of fear about inflation and higher interest rates helped send stock prices tumbling Friday and Monday. Yet the rush of anxiety has obscured a fundamental fact about the U.S. economy: It's healthy.
The pay gains suggest that employers are increasingly competing for a limited pool of workers. Raises stemming from minimum wage increases in 18 states also likely boosted pay last month.
As 2018 gets under way, investors are wondering whether the good times will continue to roll. Some financial pros are optimistic, thanks to the economy’s robust growth and the anticipated stimulative effects of the GOP’s newly passed tax-reform plan.
With the economy expanding at a solid pace and businesses confident about future demand, hiring is expected to remain solid going forward.
Job gains in December were modest, but still enough to suggest that the economy entered the new year with solid momentum.
Steady economic growth is encouraging more hiring. The unemployment rate is at a 17-year low of 4.1 percent.
The Commerce Department reported better-than-expected U.S. retail sales for November and revised its October figures upward, bringing a fresh wave of optimism to a long-embattled industry.
Friday's jobs report made clear that the U.S. economy is on firm footing and is likely benefiting from more resilient global growth, with all major economies across the world expanding in tandem for the first time in a decade.
The company's revenue from China, including joint ventures, rose 46 percent in the latest quarter.
Led by a rise in business investment, the U.S. economy grew at an annual pace of 3.3 percent from July through September, its fastest rate in three years.
The business research index measures consumers’ assessment of current conditions and their outlook for the next six months. Both improved this month.
The state’s rate has risen from 3 percent in June, when it narrowly missed a state-record low of 2.9 percent.
The unemployment rate declined to 4.1 percent, the lowest in nearly 17 years, from 4.2 percent in September, the Labor Department said Friday.
In their annual Business Outlook forecast, Indiana University Kelley School of Business economists say employment gains will fuel economic growth in 2018.
Income growth was also solid in September, rising by 0.4 percent as wages and salaries climbed.
