JEC DemocratsVerified account

@JECDems

The U.S. Congress Joint Economic Committee studies the economy and analyzes economic policies. Ranking Democrat:

Washington, D.C.
Joined February 2010

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  1. down to 5.7% from peak of 13.0%

  2. Long-term at 1.2%, down from recession peak of 4.4%

  3. down to 9.5% from recession high of 17.1%

  4. rate down to 4.9% from recession high of 10.0%

  5. 13.6 million full-time workers have been added since Jan 2010

  6. 2.1 million private-sector have been added in the past 12 months

  7. The private sector added 142k in October

  8. Labor force participation down 0.1% to 62.8% in Oct, but prime age up

  9. Economy has averaged a 176k gain in the last three months

  10. No matter how you measure it, is down; U-6 at lowest level since April 2008

  11. Average hourly up 0.4% for Oct, 2.8 year over year---highest since 2009

  12. rate ticks down to 4.9% in October

  13. Solid gains in October, economy adds 161k jobs

  14. Labor picks up in Q3; grew at a 3.1% annual rate

  15. Initial claims at 265k; 87 straight weeks under 300k (common watermark for solid labor market)

  16. Core PCE index up 0.1% for Sept, 1.7% year over year (under Fed’s 2% target)

  17. The US continues to lead the way, with a stronger recovery than our international peers

  18. has now grown in 27 of the last 29 quarters

  19. has grown by more than 16% since Obama took office

  20. grew at an annualized rate of 2.9% in Q3; driven by growth in consumer spending, exports and inventories

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