The economy continues to improve. October marked the 68th consecutive month of private-sector job gains, adding 13.5 million private-sector jobs over that period and extending the longest streak on record. The unemployment rate is at its lowest level since early 2008, and the underemployment rate (U-6) declined last month to 9.8 percent, the lowest level since May 2008.
Economic growth continued moderately in the third quarter with the advance estimate of gross domestic product (GDP) indicating that the economy expanded at an annual rate of 1.5 percent. Many economists stress that while GDP growth has been moderate we are still seeing strength in private aggregate demand.
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- MED_November 18.pdf (153.6 KBs)