Publications

- September 1, 2017: Vol. 29, Number 8

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Is the U.S. economy having a Goldilocks moment?

by Loretta Clodfelter

The U.S. economy added 209,000 jobs in July, according to the Bureau of Labor Statistics, and the unemployment rate was little changed at 4.3 percent. The strong jobs report, which beat economists’ consensus expectations, followed a strong performance in June.

From an employment perspective, the U.S. economy appears to be in a Goldilocks moment — not too hot, not too cold. More people are finding work, and the unemployment rate is falling, but earnings have not been rising so quickly as to trigger inflationary concerns. In July, average hourly earnings rose by $0.09 to $26.36.

In addition, preliminary data indicates U.S. GDP increased at an annual rate of 2.6 percent in second quarter 2017, according to the advance estimate from the Bureau of Economic Analysis. While the GDP results will be subject to further revision as more data comes in, it appears the U.S. economy grew more in the second quarter than it did in the first quarter, which realized GDP growth at an

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