WASHINGTON—The U.S. economy added 223,000 new jobs in April, a return to solid growth likely to ease fears of a significant spring slowdown. The jobless rate dropped to 5.4 percent, the lowest level since May 2008.
WASHINGTON—U.S. manufacturing output in November surpassed its pre-recession peak, as automotive production kicked into a higher gear. The Federal Reserve said that factory production rose 1.1 percent last month, up from a 0.4 percent improvement in October. Manufacturing output has risen 4.8 percent over the past 12 months. It’s now above the previous high set just before the downturn began in December 2007.
WASHINGTON—The National Association for Business Economics (NABE) predicts that the U.S. gross domestic product will grow 3.1 percent in 2015—up from a 2.2 percent expansion this year. The NABE also predicts that the jobless rate will come down to 5.4 percent by the end of next year.