A disappointing increase in GDP of 1.5% is well below the historical trend rate in the United States. Worse yet, the underlying trend in GDP as indicated by final sales is even weaker at 1.2%. This is bad news for the American job market, because even growth of 2% would only create 90,000 jobs per month, not enough to even keep the unemployment rate steady. For that the country needs to produce 125,000 jobs or see the workforce participation rate continue to decline. A change at the top is long overdue in Washington. U.S. economic performance is truly miserable. And the economic debacle has hit the United States despite record setting money printing at the Federal Reserve.
Read the entire GDP report from the BEA by clicking here.