NAI Global has published their latest view of the economy and it’s continued expansion.
In June the U.S. economy entered its 96th month of economic expansion, the third longest in U.S. history since 1854. Odds are favorable that this period of growth will surpass #2, which took place during the turbulent 1960s (1961-1969), yet calling the takeover of the 120-month economic expansion and #1 “tech boom version 1A” from 1991 to 2001 is too early to say.
That was one of the takeaways from a recent Global Economic Briefing sponsored by NAI Global in a live webcast presented to NAI professionals and guests in mid-June by Dr. Mark J. Eppli, Professor of Finance and Bell Chair in Real Estate at Marquette University. Once a quarter, NAI Global hosts an economic outlook call featuring domestic and international experts on the economy and other business trends.
Highlights from the webcast included:
4.3 percent current unemployment is the lowest in 16 years
Low unemployment is creating more competition for talent and pushing wages up
Inflation is expected to rise as wages increase
15.7 million net-new jobs is the largest job growth in a U.S. expansion (total employment is currently about 146 million)
College-educated worker pool is fully employed
For the rest of the broadcast, please click on the link.