Current Economic State Paper Essay

The current economy in the United States is expanding slowly. Although the economy has grown it is not growing fast enough to sustain the unemployment rate in America. In the United States you are considered unemployed if you do not have a job, have actively looked for work in the prior 4 weeks, and are currently available for work. Persons who were not working and were waiting to be recalled to a job from which they had been temporarily laid off are also included as unemployed.According to the Bureau of labor statistics the current unemployment rate in America is 7.

9%. Economic growth slowed down in the middle of the year, and job growth seems to have stabilized at roughly 150,000 jobs a month — just enough to keep the unemployment rate from rising. Current rates on credit cards can range anywhere from 10 % -25 %. For a person like me who has never had a credit card that seems high. The Inflation rate refers to a general rise in prices measured against a standard level of purchasing power.The inflation rate has had an average of 3.

36% dating back to 1914 according to Bureau of Labor Statistics. The most recognized measures of Inflation are the Consumer Price Index or CPI which measures consumer prices, and The Gross Domestic Product. The GDP is defined as the market value of all final goods and services produced domestically in a single year and is the single most important measure of economic performance. Presently, the inflation rate in the United States was recorded at 2. 0 percent in September of 2012. I believe that these statistics about the economy can influence you to be cautious when spending your money. Even though the economy is growing it is not growing fast enough to employ our citizens and with the recent recession some experts suggest that for an average household with expenses of $2,000 per month that the family should hold between $4,000 and $16,000 in cash or liquid assets.

For some Americans this is impossible. In my opinion some savings is better than no savings.