Economic Update — September 2019
In August, employers added 130,000 jobs and the unemployment rate remained near five-decade lows. While job creation has slowed in 2019, the overall state of the labor market appears healthy as more individuals have continued to come off the sidelines in search of work. Despite this, other areas of the economy are flashing warning signs. The manufacturing sector, which boomed in recent years, posted its first contraction since 2016 as the ongoing U.S.-China trade war has disrupted supply chains. Additionally, other countries such as the UK, Germany, and China are all experiencing the lowest economic growth in years. With the growing level of uncertainty in the U.S. and abroad, many are wondering if a recession is on the horizon.
Watch this month’s Economic Video Update with Robert Spendlove, Economic and Public Policy Officer for Zions Bank, as we discuss the current economic conditions.
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