The US economy added an annualized rate of 1.2% in the second quarter of 2018, according to data from the US Federal Reserve.
The annualized growth rate in the fourth quarter was 0.9%.
The rate was below the consensus forecast of 0.8%.
In the last three quarters, the US has added an average of 0,847,000 jobs per month, or nearly 1.3% per month.
In the second half of 2018 and the first half of 2019, the rate was 1,965,000 per month (or 0.5% per week), according to the Bureau of Labor Statistics.
The US economy is growing at its fastest pace in more than a decade.
The last time the economy added more than 1 million jobs per quarter was in January 2018, when the Federal Reserve was keeping interest rates low to keep inflation under control.
The pace of job growth is driven by two factors.
The biggest one is that the labor force participation rate is at a record high of 62.5%, or one of the highest in the developed world.
Another factor is that women are now more likely to work full time and the proportion of young people who are employed has risen.
The economy added a net of 1,726,000 new jobs in the first three months of the year, a pace that is nearly 3% above the pace in the previous quarter, the Bureau said.
Inflation was at 1.7% in February, the lowest in two years.
It is also at the lowest level since March of 2016.
The Fed’s preferred measure of inflation is the 2-percent target, which it expects inflation to hit in late 2019.