by Bill McBride on 1/23/2017 03:13:00 PM
Monday, January 23, 2017
Just noting these goals for future reference. Based on demographics, I think 2.5 million jobs per year is too high. On GDP, now that the prime working age group is increasing again (by about 0.5% per year), I'd expect some pickup in GDP growth. To average 3.5% over the next four years, we'd have to see an increase in productivity too.
• Jobs: Ten Million jobs over the next four years. "Create a dynamic booming economy that will create 25 million new jobs over the next decade." Source.
• GDP: 3.5% real annual GDP growth. "Boost growth to 3.5 percent per year on average, with the potential to reach a 4 percent growth rate." Source.