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US Economy to Grow at Fastest Pace in 10 Years

Despite the increased volatility and uncertainty seen in the markets in 2015, the United States is actually on track to do something it hasn’t done in a decade. According to a recent study, the U.S. economy is poised to grow at its fastest pace in the past 10 years.

Economists from the University of Michigan see the annual unemployment rate falling below 5% next year for the first time since 2007. The national economy will add 4.7 million jobs over the next two years — 2.4 million jobs in 2016 and another 2.3 million during 2017 — after gaining 2.9 million jobs this year, according to an annual forecast from the group.

The data suggest that unemployment will continue to fall from last year’s rate of 6.2% to 5.3% this year, 4.9% next year and 4.6% the year after, which should help part-time workers who want to find full-time jobs.

Overall economic output growth, as measured by real gross domestic...


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