2021 SPRING CONFERENCE

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Economy, Employment and Wages April 2019

The State of the US Economy remains strong by virtually every measure, and currently stands at levels not seen in over a decade. GDP growth increased to 3.2% in the first quarter of 2019, strongly outpacing forecasted growth of just 2.5%. The consumer continues to see the benefits of a strong and growing economy with increases across the board in hourly wages, disposable income and real earnings growth. Americans today are benefitting from some of the lowest levels in unemployment in virtually every category measured and in virtually every state. Likewise, the labor force grew from 62.4% to 63.2% from the lows recorded in September of 2015. Americans have also seen their personal wealth grow substantially under the current administration, with the stock market adding over $9 Trillion dollars in market capitalization since the Presidential election of 2016.