It is a $14.66 trillion economy (Central Intelligence Agency, n.d.). However, for the last 3-4 years it has been passing through a rough phase where it has experienced contraction in GDP growth, increase in…
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In the first quarter of this year the US economy has grown only by 1.8% whereas in the previous quarter it grew by 3.1% (Bangalore, 2011). As far as unemployment rate is concerned, it was at 9.1% in the month of August, 2011. There is hardly any improvement when compared to the data of previous months. According to a report that is recently published by the Bureau of Labor Statistics, at present, almost 14 million people are unemployed in the country (Bureau of Labor Statistics, 2011). What is more important is that in August the US economy could not create any ‘net new’ jobs. In July almost 85000 jobs were created but it is much lower than the expected figure 1,17,000 (BBC, 2011). It is found that Afro-Americans are mainly unemployed (16.7%) followed by the Hispanics (11.3%). There are many experts who believe that such a situation is actually the signal of the fact that US economy is preparing to get into another recession in the near future. In August it was found that the probability of recession in US was one fourth. A more dangerous report came in when Wall Street Journal published the result of a survey in September. According to this study, economists now believe that the chance of US economy sliding into another recession within next one year is now stands at 1-in-3 (Zappe, 2011). Inflation, in US is not a big concern. However, in 2010 inflation rate was 1.6% which is quite high as compared to previous year’s figure (-0.3%) (Central Intelligence Agency, n.d.). In August, 2011 inflation rate was found to be at 3.8%. The consumer price index has increased by 0.4% in that month (Trading Economics, n.d.).
The current economic situation in US can be viewed as the failure of fiscal and monitory policies that are adopted by the government. Considering the facts like GDP growth is affected, jobs are not getting created and consumer confidence on US economy
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Stated otherwise, at this moment, US economy as a whole is strong. Tilton (2011) cited two main factors as the basis of this prediction. The first reason is the stronger private sector balance sheets in America. To note, before the financial crisis, America’s private sector was spending beyond what it can only spend (Tilton, 2011).
The state of the domestic economy has always been topmost in the minds of American citizens. It will perhaps be one of the most defining issues that will determine the winner of next year's presidential elections as well. People are understandably worried about the economy as it impact on them directly, perhaps more significantly than other concerns such as a global anti-terror war.
However, he tends to preach more about the meat and actually goes to actualize the meat diet just as Atkins diet recommends Westman, C et al. (2010). I support the Atkins meat diet I must admit that I do not know how it works. For example, I fear that the Atkins diet only recommends taking meat but does not convince one on the reasons for the preference.
Presently in the US, there is slow growth and escalating unemployment; the main sources of apprehension. However, the FED will maintain the funding rate pending 2014, which is a giant push. It forecasted that the economy will develop more than 2% the following year, which is good news.
erve Bank of Australia (RBA) was established in the year 1959. The creation was put into place by the reserve bank act 1959. The act lays down the roles of these bank a puts it that this is not a profit acquisition bank. The bank introduction has seen many improvements in the economy of Australian.
The essay will discuss the impacts created by this financial crisis on different economies in the world. This part of the essay will concentrate on the growth of real Gross Domestic Product, inflation rate and unemployment rate in Australia, United States and United Kingdom.
The unemployment aspect of the US economy is actually a little dire.
The unemployed population is quitting the hunt for jobs. Moreover there is a widespread agreement on the notion that, even if the economy gets on a
And when asked about the effect of government efforts to handle the situation, majority believe the economic policies have just benefited corporations, the rich, and large banks than small businesses, the poor
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