The Economy in Perspective
Swelling up … We made it! The economy just completed its seventh year of expansion, entering month 85 with no sign of major trouble. Just the opposite, in fact. The latest labor market report revealed that employers added 310,000 new jobs to their payrolls in February, the fourth consecutive month that jobs growth has topped 300,000. Nearly 1.5 million new jobs have been created since last November. What’s more, the unemployment rate fell to 4.6 percent last month, its lowest reading since 1970.
Suggested citation: “The Economy in Perspective,” Federal Reserve Bank of Cleveland, Economic Trends, no. 98-03, pp. 01, 03.01.1998.