With Stocks Near All-Time High, Personal Income And Employment Data Are Released
Published Thursday, August 3, 2017 at: 7:00 AM EDT
Real disposable personal income grew 2.8% in the 12 months ended June 30. That's the same rate as in the last economic expansion and is enough to fuel continued economic growth. Real disposable personal income is a key figure in driving the economy because it is the key determinant of consumer spending and 70% of U.S. growth comes from consumer spending. Meanwhile, the official unemployment rate declined to 4.3%. That's lower than the bottom of 4.4% in the rate of joblessness achieved in the last economic expansion in spring 2007. Not since May 2001 has the unemployment rate been...
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