"President Donald Trump rode a wave of voter frustration about the economy to a second term in the White House, promising lower prices and a golden age for the nation. How is his administration doing so far? Despite some wild ups and downs, the US economy looks set to turn in a solid year of growth for 2025 a trend economists expect to continue in 2026."
"Data out last week showed the economy expanded in the third quarter at the fastest pace in two years, thanks to resilient consumers and business investment. The headline figures, though, obscure some less-rosy details. Job gains have been lackluster and concentrated in just a handful of industries, while high prices remain a concern, prolonging the affordability-related struggles that beset Trump's predecessor Joe Biden."
"It's been a rough year for American jobseekers amid the shakeup caused by tariffs, a pullback in foreign tourism and the rise of artificial intelligence in the workplace. The unemployment rate rose to 4.6% in November up by half a point in 2025 marking the highest level since 2021. Hiring was tepid overall, and what job growth the US did see was overwhelmingly concentrated in health care and social assistance: Excluding that sector, employment actually declined this year."
Economic growth strengthened in 2025, with third-quarter expansion at the fastest pace in two years driven by resilient consumers and business investment. Headline growth masks labor-market weakness: unemployment rose to 4.6% in November and hiring proved tepid. Job gains were heavily concentrated in health care and social assistance, and excluding that sector overall employment declined. Manufacturing lost jobs for seven consecutive months. Wage measures, including average hourly earnings and the employment cost index, rose at their slowest rates since 2021, and at least 13% of employed individuals saw no pay increase year-over-year from April through November.
Read at www.mercurynews.com
Unable to calculate read time
Collection
[
|
...
]