You’d think that would mean the economy is coasting, since periods of low unemployment are generally associated with higher rates of economic prosperity.
That seems to be the case with a lot of recent economic data: No piece of good news comes without other evidence that give economists pause.
“I wouldn’t give the economy a clean bill of health,” said Gregory Daco, chief economist at EY.
But given consumer spending is one of the biggest drivers of the economy, a pullback can have adverse effects, too.
The uglyThe biggest flashing red light in the economy right now is the level of debt people are racking up.
Persons:
Zers, ”, Gregory Daco, Joe Biden, there’s, Donald Trump’s, Here’s what’s, Christopher Waller, ” Waller, ” David Alcaly, Daco, ” Sung Won Sohn
Organizations:
New, New York CNN, EY, of Labor Statistics, Federal, Gov, Lazard, CNN, New York Fed, Loyola Marymount University, SS
Locations:
New York, Wisconsin