Economic Health Of Oregon By Looking At Gross State Product, Unemployment, And Inflation Essay

Over the past five years, the federal government has also found it difficult to measure “improvement” in states. Currently, success is based in terms of job entry rate or increases over time in job entry rate, retention rate, and earnings gain. States may use quarterly unemployment insurance wage records, surveys, administrative records, or a combination of those data sources. States are given wide latitude in the sources of information they report. Also, to further distort the findings, there is no baseline data with which to make comparisons (Danziger, 2000).

The economy of Oklahoma during early statehood, from the period 1907 to 1929 can be divided into two main economic sectors: the economy from the land and the economy from beneath the land. Both of the economic activities have driven and shaped Oklahoma’s history from statehood to now. Although through most of Oklahoma’s history the state’s economy has been an extractive economy using the resources from the land and exporting the raw products out of the state for modest, yet profitable returns.

Arend argues the reason Georgia has been ranked #1 two consecutive years by Site Selection magazine is because of its work force training program (Quick Start), logistics infrastructure, and public education system. Semuels refutes this claims by pointing out Georgia has had the highest unemployment rate 3 consecutive months, terrible transportation, and decline in educational funding. Semuels provides details to these claims with Georgia having an unemployment rate of 7.2, while the national average is 5.8; even the Quick Start program does not help Home Depot had to go out of state to find workers to fill their positons because lack of highly skilled workers in Georgia. The state ranks 49th in per capita in transportation funding, and has cut the public education budget by 8.3 billion. Overall, Semuels does a great job of using statistics and citizen interviews to show Georgia really has a problem. Georgia is a great state for business mainly for the tax breaks cooperate companies get from the state, but for the workers looking for jobs it is really detrimental. Georgia thought lowering taxes would stimulate the economy, but it backfired. As Semuels points out, “It might be a long time before things get back to normal in

The pace of recovery of Georgia's economy has been deemed as modest. The demand for new jobs are slowly increasing, which in result is causing the unemployment rate to stay the same or even rise. With less job openings, more Georgians are in an impoverished state for longer periods of time. This, in effect, hurts the economy because without any money being earned from employment, there is less money to be spent on goods and services to help boost the economy. Also, less jobs means more people are dependent upon the

In this report, the Great Recession and the current economic down turn in the United States will be discussed. This report will cover the definition of both a recession and depression, and how these two differ from one another. The report will then detail two significant factors that were involved in the formation of the Great Recession. Finally, the report will discuss the differences and similarities between the Great Recession and other recessions that have taken place in recent U.S. history.

In this chapter, the author highlights the failing economy of Northeast Ohio. After the decline of the steel industry, the region lost tens of thousand of jobs and thousands of citizens moved out as a result. Although the region saw a slight boost in their economic growth, they were comparably slow to many other metropolitan areas in the country.

The chart above compares the over all socio-economic data for all three counties in addition to the entire state of Ohio and the US according to recent census data. The comparison by county shows diversity among the counties and a correlation of an increase in the number of employees, median household, and median property value. Lucas and Summit County are similar in all areas with the difference of the adaptation to the different industry when the steel/auto industry crashed in the 1970s. Summit County’s residence and ability to increase even at the smallest fraction shows how the service industry and healthcare have been able to provide a living to many of the dislocated employees in the region.

Educating oneself about the economy is a rigorous task seeing as it has several different aspects to it. Unemployment and the related topics in the chapter sparked an interest within me. Fortunately, I was able to find an article that covered this topic in a state I’ve come to love- California. The article, “California adds 54,200 jobs in May; unemployment rate ticks up to 6.4%”, provides visual representation of the data stated and provides quotes and opinions from people among the Californian population. This produces additional support for the article. The fact that the situation is occurring in California, along with visual representations, gave reason for my decision in choosing this article.

The physical isolation and harsh climate of America’s northernmost state drives inflation. Even without an income or sales tax, Alaska still has the one of the highest cost of living in the country. Despite the inflation on imports, the beauty residents see every day when they walk out their door helps soften that blow. Alaska’s residents don’t need to hop on a plane, or book a week at an expensive ski lodge because state parks that offer the best of the world’s attractions free surround

Now I’m going to compare a state to Connecticut that had a better and much faster jobless recovery. So what is a better to compare Connecticut with than the neighbor states? The state that I’m going to compare Connecticut to is good old Massachusetts. The reason why I pick Massachusetts is because it’s the best State in the New England area. Well to me it is. Another reason why I pick Massachusetts because Maine, Vermont, and New Hampshire would have blown Connecticut unemployment rate out the water. Their unemployment rate were 3.3% and below. Connecticut and Massachusetts really don’t compare at all. It make Massachusetts a way better state. Even though they might have a bigger population than us they shouldn’t have a lower unemployment rate

We can gauge approximately how well the people in our economy are doing by measuring the unemployment rate. The unemployment rate is the percentage of people who are unemployed divided by the number of people who are in the labor force. If we observe the most recent data for unemployment, we can see that the rate is 5%. A month ago, the rate was 4.9%. A year ago, it was 5.1%. However, during the end of the great recession, the unemployment rate was 9.5%. Thus, our economy has come a long way from the recession in terms of unemployment. Another measure of economic prosperity is full employment. Full employment is the status achieved when virtually all the people who can work are

When we think about GDP, it is important to determine the country’s output. When I say the country’s total output I mean everything produced by the people of the country, as well as all the companies within the country. Today I will be discussing to you all the recent history and expected future conditions of the American economy.

Michigan is the only state in the U.S. to experience an outflow of its population between 2000 and 2010, effectively reducing its labor force. Some might say that this is mostly due to the precarious economic and infrastructure conditions of the state, with cases such as the Flint water crisis. Others, however, point out the fact that most of Michigan’s labor force and recent graduates tend to move to warmer places to avoid the winter and the snow.

Give a brief description of the three ways to measure the health of an economy. There are three ways to measure the health of an economy. The first way to measure the health of an economy is The Gross Domestic Product. GDP is the total dollar amount value of all goods and services produced in one year. Four categories are looked at by producers on what is being produced (output) this would be consumer spending, business spending, government spending, and exports of a country being less than imports. Data is collected and output is measured. The second measure is going to be Labor productivity this is the measurement of workers. Measuring how hard workers are producing product would be their productivity. Improvements in equipment, training, and management will result in greater output. Labor productivity is a measurement of a worker's performance. Inflation/Deflation a rapid increase in inflation is not a good thing. Individuals, government, and business continue to increase spending. The wages are higher with inflation, but the problem is the prices on items

In examining the United States economic health, it is important to consider the current account deficits. The question as to whether or not the United States can run the current deficit accounts indefinitely. Looking at the EU and its balance of payments, the question arises again as to whether or not they can maintain the deficits they are experiencing, indefinitely. Globally speaking, the United States does hold a unique position, but does that position allow the country the ability to consistently run the deficits it currently maintains.