WEEKLY ECONOMIC UPDATE
CHART OF THE WEEK
Pro-Growth Policies Benefit Workers Left Behind in the Obama Recovery
Since the beginning of a Republican administration and Congress in January 2017, the unemployment rates among those workers who face the greatest challenges in the job market have fallen drastically. Among those with less formal educations, the unemployment rates of blacks, Hispanics, and whites have fallen 7.1%, 2.8%, and 2.2%, respectively.* These compare with respective declines of only 0.3%, 0.8%, and 0.3% in the last 19 months of the Obama Administration.
*Seasonally adjusted by Haver Analytics. The non-seasonally adjusted data, as reported by the Bureau of Labor Statistics (BLS), are 9.6%, 4.9%, and 3.8% declines over the last 19 months; in the 19 month interval before this they are 1.9%, 0.3%, and 0.9% increases.
News & Commentary
Fed’s Bostic Says Economic Outlook Is Good, But He Is Watching Bond Yield Curve (Wall Street Journal)
Fed should stand pat, Bullard says (MarketWatch)