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Significant Economic Changes In The United States

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In the past 10 years, there have been numerous economic changes in the united states. Between inflation, unemployment, the GDP and changes in government leadership, how money is spent and saved regularly changed throughout the decade. These economic habits can be different based on age, race, gender, location, education levels, and spending habits reflect each of these variables. Today i will explore these variables, how things have recently changed based on then, and how i believe things will change in the near future.

There isn’t a pattern in the last 10 years for inflation changing. Inflation currently for October is 2.0, in October of last year it was 1.6 so it raised quite a bit in the last year. But in October 2007 inflation was 3.5, …show more content…

The labor force participation rate ages 16 years and over in January 2010 was at 64.8 and in January 2017 it was at 62.9 so it dropped a little since 2010. I think that it’s just going to get lower and lower in the future because that’s the progress it has been in the last 10 years.

GDP now is in the US is 3.3%, GDP has lowered in the last 10 years. In 2007 the GDP in the US was 4.40%. There isn’t a pattern for how much it changed in 10 years it kind of went up and down since 2007. In the future I think that GDP will raise more and more.

I am going to tell you how Hawaii is doing economically. Hawaii’s inflation rate has doubled to 2% in 2016. For unemployment in Hawaii, its relatively low. Since the recession in 2009 Hawaii has been 2 to 3% lower than the national rate. In 2011 70% men 16 years or older were in the labor force and 60% of women 16 years or older were in the labor force. The GDP in hawaii in 2016 was $84.7 billion and ranked 38th in the united states. In 2006 the GDP in Hawaii was $62.1 billion and still was ranked 38th in the united states. I think that the GDP in Hawaii is going to get higher because it has gotten higher in the last ten years and It should continue to get higher. Hawaii also has the highest rate of poverty in the

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