By Sam Greenwood/The Associated PressEconomic growth, which is the amount of output and employment produced each month, is expected to be stronger than the previous year and rise slightly this year.
Analysts say the pace of economic growth has not slowed, despite concerns about a recession and weak growth in the developed world.
That means the economy is growing at a pace of about 3.5% this year and 2.9% in 2018, the U.S. Department of Commerce said Thursday.
The economy is expected grow at a 2.8% pace in 2018 and at 2.4% in 2019, the Commerce Department said in a report.
It added that inflation has been relatively subdued.
The Commerce Department forecast that growth will accelerate in 2020 and 2019.
That’s the same year the unemployment rate will rise to 5.9%.
The unemployment rate was at 5.5%, a record low.
The unemployment number is the number of people actively seeking jobs, which can be defined as those who have actively searched for jobs, the Department of Labor said in the report.