Staffing Industry Analysts (11/15/24) SIA Editorial Staff
The Federal Reserve Bank of Philadelphia’s latest Survey of Professional Forecasters has raised projections for near-term economic growth. US GDP is now expected to grow at an annual rate of 2.2% this quarter and 1.9% in Q1 2025, up from earlier forecasts of 1.7%. For 2025, forecasters predict an average of 134,100 jobs added per month, although unemployment is projected to rise slightly to 4.3% from this year’s 4.0%. Long-term GDP growth is estimated to stabilize around 2.1% annually through 2027.
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