The US Economy

The forecast for US GDP for the next five years is positive with an average rate of 1.94 percent. From 2016 to 2020, the growth of US GDP as per the forecast will be 2 in 2016, 1.8 in 2017, 1.9 in 2018, 2 in 2019 and 2 percent in 2020 respectively (United States | Economic Forecasts | 2016-2020 Outlook). According to the actual or aggregate forecast for the next five years, US GDP will be $ 18,295 billion in the year 2020. Therefore, the trend is positive, and US GDP will continue to rise gradually.

Beginning with unemployment in the 2007-2009 recession, U.S. unemployment rates peaked at 10% as well as held 41 consecutive months at rates higher than eight percent (Lazear 1). The U.S. economy plummeted during this time; many attributed the shift to a large decrease in the number of employed workers. To be able to better understand the unemployment issue, we must first examine the form of unemployment faced by the U.S. economy. Many believe that the changes faced by the U.S. labor market

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.

Consumer concern over a declining housing market, political gridlock in Washington, high energy and healthcare costs, and budget worries collectively have resulted in an economic meltdown in need of a recovery. After 9/11, central banks around the world cut interest rates so low that investors borrowed disproportionate amounts of money leading to reduced liquidity and a buildup of foreign exchange outside the United States. While at the same time, Americans overindulged in consumption without saving any money. Homeowners extracted value from their homes to subsidize mortgagees with government support coming to late. According to United States Department of Commerce (2013) with the national unemployment rate at 7.4 percent, not counting those that have stopped even looking for work, wages paid to workers were the smallest share of Gross Domestic Product (GDP) since the 1950s. In December of 2008, a full recession hit our country and the Federal Open Market Committee answered the call

The paper discusses a number of issues related to the macro economy of the United States of America. The rise of the international trade has completely changed the dynamics of the industry and has affected the overall productivity of the economy of the United States of America. This paper highlights a few key issues in the trade setup of the economy.

• As previously stated in the executive summary, the United States’ economy is currently stagnating. From week to week we may see a rise in one indicator while there is a fall in another indicator, but none of the rises or falls are drastic enough to have an overwhelming impact on the economy as a whole. Although the economy is not near as strong as it was before the 2008-2009 recession, arguably one of the biggest economic crises of the past decade, there has been much growth and strength throughout the past few years with this year being the first year in which the economy is in somewhat of a holding pattern. I believe, that even with the little growth and movement of the United States economy over the past year, it is still perhaps one of the strongest economies in the world at the moment.

While there are expectations of a yearly gain of nearly 2.3 million net new jobs, the unemployment rate is still very high i.e. around 6.5 percent. The lower-than-expected job growth is fueled by various factors including government hiring, weather, and Obamacare. Actually, similar to December, January had a lower-than expected increase in job opportunities since only 113,000 jobs were created. However, the rate of unemployment still reduced to 6.6 percent in this month despite of the growth in labor force. The current rate of unemployment is the lowest in U.S. since the 2008 recession because more people are leaving the labor force instead of finding jobs.

Despite the common assertion that all math is inherently difficult, statistics is rooted in simple mathematical concepts. Descriptive statistics, as depicted by author Charles Wheelan in Naked Statistics: Stripping the Dread from the Data, is a way to summarize raw data in order to make immense data sets more manageable and understandable (2013). As Wheelan points out, everything from presidential elections to baseball games can be summarized using statistics (2013). One of the most prevalent uses of statistical analysis is to summarize data in order to reflect the health of the U.S. economy, specifically through gross domestic product (GDP). Wheelan touches on the subject of how statistics can be used in conjunction with economics; however, there is much more he does not mention. The health of the U.S. economy is imperative to every American. It dictates whether it is a good time to splurge on a pricey vacation, invest in a new company, or save for the future. The only way to truly understand the current status of the U.S. economy is by being able to interpret statistical analyses accurately, which may be trickier than it appears. Just like any other topic, it starts with the basics (mean, median, etc.), but Wheelan soon makes it apparent that things become a bit more complicated when one looks past the fundamentals of statistics (2013). Interpreting statistical analyses is more than just being able to read charts and graphs. Descriptive statistics is rooted in simplicity;

Several years ago the economy in the United States took a real turn for the worst. It was one of the biggest economical down falls in history. Many people lost their homes toforeclosure when they became unable to make their mortgage payments. There are many reasons that people suddenly became unable to make their payments. As the unemployment rate increased from 5% in December of 2007 to 10.01% in October of 2009 (Bureau of Labor Statistics) many people lost their jobs. Another cause was that people had entered into bad loans with interest only or ballooning payment loans these types of loans were very common lending practice. Then when the housing market crashed people found themselves upside down in their loans, meaning that they now owed two or three times the value of their home. These are among some of the reasons people lost their homes. Now that the economy is starting to turn around and the federal government has kept the interest rates low.Is there any hope for all these people that have lost their homes to recover and own a home again?

The economy changing has many differing factors to determine how society is run. An economy change will greatly impact the people it'll also impact the way they live. But you need change to grow and get better. Economic change also impacts culture and politics, society and technology. Economic changes everything and everyone for better or for worse.

During the days of 1820 to 1860 in the United States, the living style of Americans became more different from north to south. We can observe on the economic perspective. First, the difference of the industrial sectors led to the different extent of the need of slavery. The manufacturing sector, thanks for the advent of industrialization, did not require as many slaves as the agricultural sector did in the south which was largely supported by a massive number of slaves. Secondly, due to the difference of industrial sectors, both regions had distinct city developments, which led to the different attitude toward each other. The north had many urbanized cities in which many immigrants moved, and thus indirectly led to the different perspective of slavery. Thirdly, the political effect on both sides differed. The policy of raising the tariffs benefited the north which did not rely on the import goods; however, it was detrimental to the south which did not need the protection of high tariffs, instead it relied on the import goods from Europe. These differences intertwining to each other gradually led to the obvious distinction, opposition, and ultimately the civil war.

The economy of the United States is considered to be the largest economy in the world. Despite being hit particularly hard by the financial crisis in 2008, the United States has recovered faster than many of its developed‑world counterparts. In 2015, the Economic Report of the President, an annual report written by the Chair of the Council of Economic Advisers, was estimated the United States’ Gross Domestic Product (GDP) to be $18.7 trillions, with 2.4 percent growth.

Overall the U.S economy faced challenges due to budget cuts, taxes, and spending cuts. Policy changes marked sluggish growth followed by a strong finish in 2014 therefore 2015 should have a stronger economic outcome.

The Great Recession, coinciding with the subprime mortgage crisis, lasted from the end of 2007 to the middle of 2009. This downturn became the biggest economic crisis that the United States had faced since the Great Depression. Causing high unemployment rates, a decline in consumer confidence and home values, the recession had a great impact on both Americans and immigrants in the United States. Since the 1990s to a few years before the recession, the number of immigrants entering the United States increased at a constant rate as more and more people came to the country in search for better job and education opportunities. This number dropped, however, when the country entered the economic crisis in 2007. The American Community Survey

Real GDP is likely to grow by 2.7% in 2016. It might slow towards year-end, winding down