As Grant Street Consultants reflects upon the end of 2019, we were fortunate – like many businesses – to have shared in a strong economy this past year. And, with 2020 fast approaching, let’s take a closer look at the strength of the US economy.

One of the most critical indicators of economic health is GDP- the measure of the nation’s production output. Currently the United States is at 2.2%, right within the ideal range of 2%-3%. Our national unemployment rate is 3.5%, the nation added 266,000 new jobs in November, and 80.3% of the prime working age population is employed.

The Federal Reserve held interest rates steady after its meeting this week and indicated that changes are unlikely next year given the country’s persistently low inflation. There will be more jobs created in 2020, especially in the fields of healthcare, construction, personal and social care. The Bureau of Labor Statistics is projecting that the economy will fully recover from the recession by 2020. We will enter the new decade with a strong economy.
United States GDP Growth Rate