Current U.S Economic Situation Assessment

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Economics

Description

Getting into the habit of reading the Wall Street Journal or other economic journals is another goal of this class. You are encouraged to subscribe to the Wall Street Journal. The Journal offers major discounts for students and helps build the much needed knowledge and skills for business majors.

Please, make a habit to read and while reading try to gather information about the current state of the US economy. Provide an overall assessment of the economy.. You might want to follow the framework provided below to analyze the economy and current fiscal and monetary policy. Pay attention to identify all sources for pictures, videos, and other items in your paper.

Suggested Framework

An assessment of current economic conditions

Job market (current data)

Economic Growth (cite current data). What has been the projector of this growth? Has it accelerated or slowed and why?

Price Level (cite current data)

What are the current threats to the US economy presently?

What is the current fiscal policy being pursued? What are some of the limitations of this policy?

What is the current monetary policy being pursued or envisioned to be pursued for 2018? What are some limitations to this policy?

What is your prognosis for the future and why?

Conclusion

Bibliography (Use MLA or APA format). At least 6 resources needed for this paper.

Appendices, graphs, tables.

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Explanation & Answer

Here you go. In case of any further inputs, please let me know.All the best!I appreciate working with you!

Running head: THE U.S ECONOMY

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U.S Economy
Name
Course
Professor
Date

THE U.S ECONOMY

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The U.S Economy

The economy is the current most debated topic in the U.S. Conversely, politics and the
economy are entwined since political implications also significantly impact the economy.
President’s Trump and his administrators made bullish comments on improving the country’s
economic conditions. White House economists predicted that the upturn in GDP growth in the
previous year, 2018, to 3% would remain due to the GOP tax cuts. However, forecasts from all
sides of the financial spectrum, be it the Federal Reserve or Wall Street, are skeptical. The
President promised to increase the country's economic growth to 4% which seems faster. that
projected pace results to overconfident irrational exuberance. It may create a boom leading to a
damaging bust. Some of the factors causing the changes in the business cycle include demand
supply, market’s future perception, and availability of capital. The United States is the thirdlargest economy in the world. It comprises a mixed economy which stipulates that it’s a free
market economy. Still, in this aspect, the government imposes regulations that protect the
economy. The nation's current GDP is at $20.89 trillion and the growth rate at 2.6%. These rates
are likely to get affected by some economic indicators. Most significantly, the indicators like the
job market, growth rates, fiscal and monetary policy impact the country's economic condition
and offer a good platform for assessing the nation's economic condition.
Job Market
The job market is also known as the labor market. It grows or shrinks depending on the
labor demand and availability of workers supply in the economy. Job market makes up a
significant part of the economy. Additionally, it is directly linked with the demand for goods and
services. From the Bureau of Labor Statistics 2019, the total nonfarm payroll employment never
changed that much. The unemployment rate reduced to 3.8% and the employment rates in sectors

THE U.S ECONOMY

3

like healthcare, wholesale trade, business and professional services continued rising as the
construction employment reduced (Lundborg, 2017).

The figure shows the unemployment rate, and according to Bloomberg, the rate was almost flat
for a year.
Further, the unemployment rate went down by 0.2 points in percentage to reach 3.8% this
year in February. Meanwhile, the number of unemployed people reduced by 300,000 reaching
6.2 million. In the number of unemployed persons, people who lost jobs and the number that
completed temporary jobs reduced by 225,000. The reduction is a reflection of the federal
workers' return who got furloughed in January because of the government shutdown. Within the
worker groups, unemployment rates representing the adult male was 3.5% with the white 3.3%
and the Hispanics 4.3% reduced in February. In adult women, the unemployment r...


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