Economic Update — June 2019
After 10 years of economic expansion and 104 consecutive months of job creation, the US labor market appears to be slowing. In May, employers added a fewer-than-expected 75,000 jobs and annual wage growth declined to 3.1 percent. With the unemployment rate at a 50-year low and a lack of new workers entering the labor force, employment gains may continue to be muted. Additionally, worries over global growth and trade negotiations have added to the uncertainty in the economy. With the labor market and economy at potential tipping points, the Fed has opened the door to interest rate cuts in 2019.
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 and what to watch for in the Fed’s upcoming meetings.
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