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Reports for 1962- include: The annual report of the Council of Economic Advisers (title varies slightly).
The Economic Report of the President provides valuable information about the present state of the U.S. economy and its future course. The Economic Report is issued by the Executive Office of the President and the Council of Economic Advisers and transmitted to Congress no later than 10 days after the submission of the Budget of the United States Government. It includes: Current and foreseeable trends and annual numerical goals concerning topics such as employment, production, real income and federal budget outlays. Employment objectives for significant groups of the labor force. Annual numeric goals. A program for carrying out program objectives. For more than 70 years, the Economic Report has provided a nearly contemporaneous record of how administrations have interpreted economic developments, the motivation for policy actions, and the results of those interventions. Included in the Economic Report of the President is the Annual Report of the Council of Economic Advisers. Each year, the Council of Economic Advisers submits this report on its activities during the previous calendar year in accordance with the requirements of the Congress as set forth in section 10(d) of the Employment Act of 1946 as amended by the Full Employment and Balanced Growth Act of 1978.
The Economic Report of the President provides valuable information about the present state of the U.S. economy and its future course. For more than 60 years, the Economic Report has provided a nearly contemporaneous record of how administrations have interpreted economic developments, motivated policies, and the results of those interventions.
Three years into the Trump Administration, the U.S. economy continues to outperform expectations across numerous metrics, with growth in output, employment, and employee compensation all exceeding pre-2017 forecasts. The evident success of the Administration's economic policy agenda demonstrates that its foundational policy pillars are enabling the U.S. economy to overcome structural trends that were previously suppressing growth. During the four quarters of 2019, real gross domestic product grew 0.7 percentage point faster than had been projected by the independent Congressional Budget Office's (CBO) August 2016 projections. As shown in figures I-1 and I-2, the U.S. labor market added 2.1 million new jobs-2.0 million more than projected in 2016-bringing the civilian unemployment rate down to 3.5 percent, which is its lowest level since 1969 (and 1.4 percentage points below 2016 CBO projections).1 Higher pay accompanied abundant job vacancies, as employee compensation rose to 1.4 percent above the 2016 forecast, implying an additional $1,800 in compensation per household. In July 2019, the current expansion of the U.S. economy became the longest on record. Contrary to expectations that the expansion would slow as it matured, economic output has accelerated over the past 3 years relative to the preceding 71/2 years, with output growth rising from 2.2 to 2.5 percent at a compound annual rate. In the first three quarters of 2019, U.S. economic growth was the highest among the Group of Seven countries.
The Economic Report of the President provides valuable information about the present state of the U.S. economy and its future course. For more than 60 years, the Economic Report has provided a nearly contemporaneous record of how administrations have interpreted economic developments, motivated policies, and the results of those interventions.