Tags: us economy | expansion | employment gains

Reports: US Economy in Longest Expansion in History

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By    |   Monday, 01 July 2019 12:43 PM

The U.S. economy is in its longest expansion on record and in its longest period of monthly employment gains, according to various economic data.

The nation's 121st month of economic growth began Monday, according to data from the National Bureau of Economic Research disclosed by Quartz.

According to the agency, the expansion began in June 2009 — with the previous record being 120 months, from March 1991 to March 2001.

In addition, the Labor Department reports that 75,000 non-farm jobs were added to the nation's economy in May, keeping the unemployment rate at 3.6 percent for the month — a 49-year low.

In May, the number of employed Americans rose by 113,000, to 156.8 million, while those without work increased by 64,000, to 5.9 million.

However, these rosy figures are becoming tougher to maintain, Quartz reports.

Increased concerns about the Trump administration's trade policies, primarily toward China, and continued low inflation have stoked fears that the Federal Reserve might cut interest rates further later this year.

The Labor Department releases June employment figures on Friday.

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The U.S. economy is in its longest expansion on record and in its longest period of monthly employment gains, according to various economic data.
us economy, expansion, employment gains
173
2019-43-01
Monday, 01 July 2019 12:43 PM
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