Current State of the Economy
Conduct internet research, (sources must be documented using MLA format), and write a brief
analysis of the current status of the U.S. economy. Include current values and trends for at least
three of the following indicators:
GDP
Productivity
Inflation
Unemployment rate
CPI
Balance of Payments and/or Trade
With a Trump Presidency claiming to boost the economy for the last couple
of years, how are we as a country doing? We are currently undergoing an economic
expansion that has been steady for the last nine years. The last quarter of 2017
hosted an increase of 2.9 percent and 2.2 percent in the first quarter of 2018. These
GDPs are currently at an ideal rate, showing that the United States is doing well in
growth. This healthy GDP not only expresses higher incomes for citizens, but also
that the citizens are spending money. As citizens continue to flush the economy with
their money, jobs are also on the rise.
The unemployment rate is a major indicator of how any economy in the
world is fairing. According to the Bureau of Labor Statistics, the unemployment rate
is at 3.8 percent. This is the lowest unemployment rate in almost two decades. This
is a major reduction since the Obama administration, which went to a 10 percent
unemployment rate in October of 2009. Over the last year and a half, there has been
a steady downward trend in unemployment, indicating well with the GDP that our
economy is undergoing a major expansion. Jobs are up, people are spending money,
and citizens are taking in higher wages. But how is inflation doing?
Inflation has rose 2.8 percent over the last 12 months. The worth of the
dollar is decreasing, while the prices are increasing. While a 2.8 percent inflation
isn’t too bad, it is a borderline number that needs to be watched. Overall, the United
States economy is looking well going halfway into 2018. With Trump’s tariffs on the
way to try and boost U.S. manufacturing and jobs, it will be interesting to see how
everything plays out.
Bibliography
“U.S. Bureau of Labor Statistics.” U.S. Bureau of Labor Statistics, U.S. Bureau of Labor
Statistics, 17 June 2018, www.bls.gov/.
US Department of Commerce, et al. “Bureau of Economic Analysis.” U.S. Bureau of
Economic Analysis (BEA), www.bea.gov/newsreleases/glance.htm.