Analyzing Current Situation Of Us Economy And Comparing It With Past Years

The United States is not only one of the largest economies in the world, but it is also one of the strongest economies compared to industrialized countries, and this has been proven in the last few years. Despite of what many people believe or see, U.S economy is booming and it will continue to boom during the year 2015. In the article “When the U.S Economy is the Envy of the World,” published by the MSNBC on December 8, 2014, its author Steve Benen argues about the U.S economic recovery in order to persuade U.S citizens and show them the numbers that prove that our economy has recovered. Benen (2014) also encourage U.S citizens not “to compare the current economic recovery to other recoveries that followed modern downturns,” but “to compare our economic recovery against other countries who dealt with similar circumstances” because according to President Obama, the U.S “has put more people back to work” than any advanced economy in the world (qtd. in Benen, 2014). There are strong evidences that prove that the U.S economy is in its best year compared to three years ago. The growth of jobs, the slight increase of wages, and the low price of oil have truly helped the U.S economy recover.

The health of the current U.S. economy appears to be growing gradually. The second quarter real GDP growth was 3.7% and the unemployment rate declined to 5.3%. The U.S Federal Reserve (Fed) is expected to raise interest rates in the near future when it sees clear signs of strong economic growth and improvements in the job market.

Although business leaders may not have a crystal ball to help them plan for the future, they do have access to a wide range of Federal Reserve publications that can help identify recent and current trends and what these economists believe will take place in the coming months. Given the lingering effects of the Great Recession of 2008 on the American economy today, identifying the future economic outlook for America using this type of freely available information therefore represents a timely and valuable enterprise. To this end, this paper provides a review of relevant publications to identify the Federal Reserve's current assessment of economic activity and financial markets, its current view about inflation and various monetary tools that have been used to stabilize the economic and prices in recent years. Finally, an analysis of the economic outlook for the next 12- to 18-month period is followed by a summary of the research and important findings in the conclusion.

The United States, one of the most powerful nations in the world, was founded less than two hundred and fifty years ago. Since 1776, the year when the thirteen original colonies ratified the Constitution, three cornerstone ideas have been the drivers of the country’s progress-- Life, Liberty, and Pursuit of Happiness. Found in the Declaration of Independence, which was written by Thomas Jefferson, these three concepts have been crucial in the lives of all Americans throughout the existence of this nation. Liberty, which includes personal and economic freedom, was the main reason why the colonies decided to break away from the United Kingdom in the eighteenth century. The U.S. went through many economic booms, various recessions, and several major economic depressions throughout its history. Yet, here it is, mostly unscathed and in full glory, still dominating the world stage in economic and foreign affairs. However, in the past two-three decades, the economic conditions have changed adversely, especially for the younger generations. It is an undeniable fact that the consumer and labor markets have undergone tremendous adjustments, partly due to people’s changing lifestyles, as well as globalization. According to Janet Yellen , the U.S. Federal Reserve Chairwoman’s, statement to Congress, the “[country’s] financial conditions have worsened” and the United States economy has become “less supportive of growth” in recent years (Web). The combination of these various factors and

From the economic review for January 2012 has a graph that shows the output of the three major economic sectors: manufacturing, construction and services. The graph shows the recession in 2008 to 2011 and how it recovers.

1. Analyze the current economic situation in the U.S. as compared to five (5) years ago. Include interest rates, inflation, and unemployment in your analysis.

The Bureau of Labor Statistics has released its report for July 2016, and the numbers have some people speculating that a real recovery may be at hand. Wages have been rising consistently for the past few months; the average hourly wage for July was $25.69. The unemployment rate was 4.9 percent for July, which was the same as June but 0.2 percent higher than May. Jobs are increasing; the July change was 255,000, which was a bit lower than the 292,000 reported for June but significantly greater than the pitiful 24,000 reported for May. At first glance, it appears that the American economy is showing signs of rebounding at an accelerated rate — but is that assessment accurate?

Is the United States economy doing well since the Great Recession? It is, according to economic data. I base my argument on the answers to three states concerning the health of the macroeconomy. The first goal is that of full employment. Full employment is a state in the economy where virtually all who are willing and able to work are employed. The second goal focuses on economic growth, or the growth of our GDP. This is the value of all finished goods and services produced in the United States in a given time period. Good economic growth can be measured by the rate of growth of the GDP. The third goal seeks price stability. Is the value of the dollar inflating, deflating, or staying constant? If the answers to these questions are positive, then it can be stated that our economy is in good shape.

The Great Recession that began in 2007 introduced people to a feeling not since felt since the Great Depression of the 30’s and 40’s. It reintroduced a new generation to the realization that we cannot take anything for granted. It sprung up fears in a fearless population, and out of it born a stress like no other. We can harness that stress; we own it as individuals, employees, as employers, as caretakers of the future.

The assignment was to compare the United State’s current economy to another different country. For this assignment, I chose Philippines to compare with United States because I want to know more about its economy and how it differ and similar to United State’s economy. I placed all the informations I acquired into a large poster, separating the United States and Philippines’ economy. I selected this assignment because I learned a lot about the United States and Philippines’ current economy and their labor market. Through this assignment, I learned how they are almost similar in terms of their economic and political system, the types of growing careers in their economic sector, the types of goods and services produced, their major industries,

Americans have been bombarded by new worries in recent days with the war in Libya, unrest in much of the Middle East, and the seemingly endless series of catastrophes in Japan as reported by a recent Gallup poll measuring economic confidence. Added to that, there is a weak job market, increasing fuel prices, and fierce budget battles in Congress, obviously, it is clear the U.S. economy still faces

Everybody in the United Stated was affected by the recession that began in December of 2007 and spanned all the way to June 2009. Even though the recession is over, many people are still being affected by it and have still not been able to recover from the great recession. “The recent recession features the largest decline in output, consumption, and investment, and the largest increase in unemployment, of any post-war recession”. Many people lost their jobs due to the recession and some of them are still having a hard time finding jobs and getting back on their feet. Businesses

"The first "decline" of the U.S. economy occurred" (Dezhao, 2006) back in the 1930s during the capitalist world 's great economic depression. The second "fall" took place in the 1970s and 80s, the time which the international competitiveness of U.S. commodities and capital decreased significantly. The third "decline" occurred late 2000 ', the recent financial crisis 2008/9. The reasons and results of the three "falls" are very different. Following the first two "declines", the United States made efforts to alleviate the declines through reform and innovation. There is a lot of uncertainties whether the U.S. economy would be able to ‘recover ' this time.

The U.S. economy, as measured by real GDP growth (i.e., GDP adjusted for inflation) began to recover in mid-2009. However, the pace of growth over the next 3½ years was slow and uneven. From the second half of 2009 and through 2010 real GDP increased at an annualized rate of 2.5%. Compared

The current rate of GDP growth, according to the Bureau of Economic Analysis, is 2.7% (for Q3), and it was 1.3% in Q2 of this year. This rate reflects relatively slow growth, with challenges remaining in the domestic market and with sluggishness in Europe suppressing exports to that region. The rate of GDP growth is predicted to slow to a decline of 0.5% between Q4 2012 and Q4 2013, the US re-entering recession, according to the Congressional Budget Office's projections. These projections are based on the provisions of the Budget Control Act being enacted, though any observers are doubtful that this will occur.