Faster U.S. growth, but less hiring in 2017
Business economists still expect U.S. economic growth to pick up next year -- but they see a slowdown in hiring.
The median estimate from economists surveyed by the National Association for Business Economics calls for the American economy to grow 2.2 percent in 2017, up from a forecast 1.6 percent this year and unchanged from NABE’s previous survey in September.
They see the risk of a recession as remote: 90 percent expect the current economic expansion to continue until at least 2018.
The economists forecast employers will add an average 168,000 jobs a month in 2017, down from 180,000 a month so far this year.
They predict the unemployment rate, which fell to a nine-year low 4.6 percent last month, will average 4.7 percent in 2017.