Economic Environment

1101 WordsSep 20, 20085 Pages
The United States economic environment consisted of many criteria between the years 1999-2003. One factor of influence on the economy was the unemployment rate of Americans. Personal income was another factor that played into the economy. Another economic factor was the price of oil. The last factor was that of the unimaginable War in Iraq. These factors all combined to impact the economic environment. Unemployment rates have always been atop Americans minds. Today more than ever, Americans worry about the safety of their job. From the Bureau of Labor Statistics Data website, I found the following results. During 1999, the unemployment rate of people aged 16 years and over was 4.3% at the beginning of the year, with minor…show more content…
Granted gas prices were not as high as they are today, but back then $2.00 a gallon was unheard-of. “Since 2001, the five largest oil refining companies operating in America—ExxonMobil, Valero, ConocoPhillips, Shell and BP—have recorded $228 billion in profits” (Public Citizen). I would say that investing in the oil and gas industry during that time period would have been an excellent idea. Around the early 2000’s, the major automobile manufacturers started the move to produce vehicles that had increased gas mileage. Perhaps they had some insight of what was going to happen in years to come. Gas prices determined whether a family took their summer vacation or drove across the country to see their favorite sports team. This in turn affected the amount of money people spent, which affected the price of everything. September 11, 2001 is a day that will always be remembered. Because of the actions that those men took, the U.S. had to retaliate. Not only were those 2,752 victims (CNN) affected, but their families and the families of all of those who lost their lives. This prompted the War in Iraq, a war that has changed everything. The economy was disrupted by this action. As mentioned above, unemployment rates skyrocketed. There were unsettled views of most or all Americans which resulted in a disturbed economy. Another victim was thrown into the mix, soldiers. Their lives were changed forever. Also, the fact that there could be
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