which sector of the u.s. economy was responsible for most of the growth in new jobs during the 1990s
1990s United States boom It was in the spring of 1994 that the U.S. economy finally reached "escape velocity": GDP growth surged and the number of jobs created (3.85 million) set a record that has yet to be surpassed as of 2015. But 1995 would bring a pause in economic growth, primarily because the Federal Reserve raised interest rates from 3% to 6% beginning in late-1994 to prevent inflation from rising after such rapid growth along with two government shutdowns that slowed the economy. The pause was short-lived, however, as the economy adjusted and the surge of investment in the Dot-Com bubble would jumpstart the economy beginning in late-1995. 1996 saw a return to steady growth, and in May 1997 unemployment fell below 5% for the first time since December 1973.