The Unemployment And Output Statistics - 992 Words

The changes in the unemployment and output statistics of the United States since October 2014 have been unusual. These numbers can suggest two things: the numbers are fluctuating so much that they might not be meaningful enough to think of our economy as going into a recession or our economy can be in a little recession. To understand this more in-depth two articles describe the numbers of unemployment and output statistics that illustrates that the US economy can be seen as going into a tiny recession. As unemployment seemed to be at a low in some months since October of 2014, the US economy might diminish before it improves. As the stock market was fluctuating many were questioning if the economy was going into a recession. As economists look at the numbers of unemployment they noticed that it has been one of the worst in almost a decade. For example in the month of September they were easily the worst even though it was predicted that the year of 2015 was going to be tremendous for the economy (Irwin). As the economists look at the numbers even though unemployment was unchanged almost all the other numbers fell such as jobs created was way below the average, average hours fell, and the number of people having a job fell, and the number of people in the labor force fell (Irwin). The economists saw similar numbers in February of 2014 but they were seen as a reason of bad weather but the numbers they see of those in September were not met with bad weather, a strike, orShow MoreRelat edThe Cost Of Real Money1690 Words   |  7 Pagesrecall that from the four-quadrant IS-LM diagram (our earlier Figure 4), when IS-LM centers on the full employment output level so that Y* = YF, then the labor market clears and thus there are apparently no inherent dynamics to imply a rise in wages. If anything, a Pigou Effect arising from the fall in real money balances ought to push the IS curve to the left and actually generate unemployment so the implied dynamic might actually be a fall in money wages (of course, in the process of the original adjustmentRead MoreCost Push Inflation On The Prices1101 Words   |  5 Pagespolicy, and positive expectations about the future (increased growth/income expectations). The Demand pull inflation (FIGURE 3) Again, Demand pull inflation occurs when aggregate demand and output is growing at an unsustainable rate leading to increased pressure on scarce resources and a positive output gap. When there is excess demand in the economy, producers are able to raise prices and achieve bigger profit margins because they know that demand is running ahead of supply. Typically, demand-pullRead MoreEnvironmental Analysis of IKEA Essay1493 Words   |  6 Pagesare: Economic output, productivity, unemployment/employment, inflation, and budget balances and finance. Economic output is used in terms of short run business fluctuations and long term growth. The Oxford English dictionary defines economic output as â€Å"relating to the science of economics; relating to the development and regulation of the material resources of a community or nation† and â€Å"that which is produced in an industry or process† (OED Online, 2007). Understanding the output and input relationshipRead MoreA Brief Note On U.s. Unemployment Rate1469 Words   |  6 PagesKaimeng Xing Analysis on U.S. Unemployment Rate Econ 2002.03H Nov. 9th, 2014 Since the financial crisis in 2008, U.S. unemployment rate has been an issue of importance and public concern. Why? Because the unemployment reflects current economic situation and people’s well-being in general. In this analysis, I will briefly discuss the definition of unemployment and the impact of high and persistent unemployment. Then I will analyze the trend of U.S. unemployment rate of recent months. I will alsoRead MoreGm545 Business Economics-Project Paper 21569 Words   |  7 PagesChapter 15, Question 14 National income and output are used in economic studies to estimate the value of goods and services produced in an economy a snapshot of a country’s economic activity. A system of national account is employed to account for and record economic changes. National income is calculated using a variety of different methods. Some of the more popular methods include GDP (Gross Domestic Product), GNP (Gross National Product), NNP (Net National Product), NNI (Net National Income)Read MoreThe Decision Of Vermont s Macroeconomic Health Essay1561 Words   |  7 Pagesvarious different situations like output, employment, and inflation. In this writing assignment, I will be analytically deciphering the great state of Vermont. This paper will ultimately state the condition of Vermont’s macroeconomic well-being, whether it’s healthy, unhealthy or a mixture of the two. The decision of Vermont’s macroeconomic health will be made by comparing the data of Colorado and Vermon t. I will be looking at the following categories: State output, Employment, and Total cost of livingRead MoreThe Differences Between Emerging and Developing Markets According to Oecd and Imf Definitions1129 Words   |  5 PagesIn this article I’m going to try to explain   the differences between emerging and developing markets according to OECD and IMF definitions,the I’m going to talk about relationships between unemployment,GDP and industrial production.Then I’m going to look at the effects on emerging and developing markets and try to find an answer the effects is significant or not. There are significant 2 market types in the world that over the years debates about differences,advantages,disadvantages are heldRead MoreThe Phillips Curve and The Quantity Theory of Money1128 Words   |  4 Pagesinflation rate and the unemployment rate. When the unemployment was high, the inflation rate would be low; the inflation rate was high, the unemployment rate would be low. Here we have the statistics data of the inflation rate and unemployment rate from 2007-2011. On the other hand, Phillipss â€Å"curve† also represented the average relationship between unemployment and wage behavior over the business cycle. In the short run, there is a tradeoff between inflation rate and unemployment rate. In this graphRead MoreEco 561 Week 4 Quiz Free Essay1015 Words   |  5 Pages------------------------------------------------- 1. Business cycles occur when output Hint: Business cycles fluctuate over time around the linear trend of gross domestic product (GDP). A. falls below its potential B. rises above its potential C. is fixed at its potential [ D. fluctuates around its growth trend ] The business cycle includes the tendency for output to rise and fall in the short term. When output fluctuates around an economys secular trend, business cycles occur.Read MoreState Of Colorado s Current Gsp1316 Words   |  6 PagesMary Jane Shively ECON 204 October 7, 2014 Writing Assignment #1: State Analysis Part 1: State Output: Gross State Product Gross State Product (GSP) is a measurement of the economic output of a state or province, and is the sum of all the value added by industries within the state. The current level of GSP in New York available is 1,310,712 million in 2013, showing a 2.3% change from 2012 GSP. The 1-year change represents an increase in gross state product by about 29,975 million dollars. In