Economy and Jobs

GDP grew 2.3% in 2019.

This is consistent with the 2.1% average annual growth rate of the past 20 years. GDP reached $21.4 trillion in 2019.

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The S&P 500, Dow Jones, and NASDAQ stock indexes reached all-time highs in 2019.

Economy and Jobs

Monthly unemployment reached a 50-year low of 3.5% in 2019.

However, the labor force participation rate (meaning employed or looking for jobs) is lower than before the recession.

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Economy and Jobs

The economy added 2.1 million jobs in 2019, a 1.4% increase from the total number of jobs at the end of 2018.

Healthcare generated 398,000 jobs — more than any other industry — while manufacturing created 46,000 jobs.

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Economy and Jobs

Median wages increased 0.1% (inflation adjusted) from 2017 to 2018.

They're up 1% since 2004, adjusting for inflation. Holding company wages increased 20% since 2004, whereas wages in retail and transportation decreased 4% and 11%, respectively.

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Economy and Jobs

From November 2018 to November 2019, we imported $624 billion more in goods and services than we exported, a 1.1% increase from the previous 12 months.

Our trade deficit with China in the third quarter of 2019 was $77 billion, a 20% decrease from the same time in 2018.

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