Wednesday, September 11, 2019

US Expansion: Longest In History -- 18 Years SInce "911" -- US Stronger Than Ever -- September 11, 2019

Link here, although just one of many.


Slow, steady, and one for the record books:
  • The US economic expansion and recovery from the Great Recession officially made history on Monday July 1: The 10-year, 121-month expansion that started in June 2009 is now the longest ever. 
  • The previous record was set during the 120-month expansion from March 1991 to March 2001, according to the National Bureau of Economic Research. 
  • It ended as the dotcom bubble burst. 
  • While the current expansion is a record breaker, it's also been one of the slowest. 
  • Gross Domestic Product has grown 25% cumulatively since the start of the expansion, which is lower than other booms on record. 
  • The unemployment rate sits at 3.6%, its lowest point since 1969. It is down from a peak of 10% in October 2009, but job growth took much longer during this recovery than during other recoveries postwar.
This time it's different: slow and steady; not a bubble waiting to burst. Looks like The Economist gives us another example of "sour grapes":



Jobs:
  • record employment
  • lowest unemployment
  • majority of new highers, first time ever: minorities -- Washington Post

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