The US economic expansion is missing a key ingredient: more jobs.
Photographer: Jay L Clendenin/BloombergUnprecedented ‘Jobless Boom’ Tests Limits of US Economic Expansion
Uneven growth puts the outlook on a fragile footing.
The US economy is creating plenty of wealth. It’s just not creating many jobs.
Forecasters expect Friday’s report on gross domestic product to show the economy expanded 2.7% in 2025, a solid pace by any standard for a developed country. But employment barely grew, and the combination is drawing comparisons to the infamous “jobless recovery” of the early 2000s that followed the tech bubble and collapse.