The Economic Perspective: “Recession Worries Recede”

I’m Mary Walden with economist MW welcoming you to the economic perspective.  Today’s program looks at recession worries receding.   Mike, the latest national jobs report for March was relatively strong and seems to have changed many minds about whether a recession is imminent.  Does it now look like the economy has smooth sailing ahead?

 

Mike: Summary Answer

  1. 195,000 net new jobs created in the nation in March – higher than expectations
  2. Wage rates continue to rise, and work participation rate continues to gain
  3. These results are in line with the economy continuing to expand in 2019, although at a slower pace than in 2018
  4. Look for a slow GDP number for first quarter – 1.5% to 2% – but GDP growth for entire year will be around 2.3% to 2.5%, less than the 2.9% in 2018
  5. Looks like a sure bet economy will beat the record for the longest continuous growth period once June comes
  6. 2020 is another matter – many see that as a recession year; I still see growth
  7. I’m MW

 

Mary: And I’m Mary Walden for the Economic Perspective, an NC State Extension program from the Department of Agricultural and Resource Economic