Business Wire (12/10/2014)

The U.S. economy is expected to expand at a 3.0% pace over the next two years due to low oil prices, higher wages, increased consumer spending, and a falling unemployment rate, according to UCLA Anderson Forecast’s fourth quarterly release. Years of weak growth rates are expected to make way for a sustained period of 3.0% real gross domestic product growth. Experts forecast that the economy will create between 200,000 and 260,000 jobs every month and that the unemployment rate will fall to 5.0% within the next two years.

“Specifically, we are forecasting 2.8% growth in the current quarter and anticipate growth to average 3.1% in both 2015 and 2016,” says senior economist David Shulman, author of the national forecast.