The Economy Of The United States Economy Essay

705 Words Dec 8th, 2016 3 Pages
The United States Economy is the largest in the world. It represents about 20% of global output. Behind China, The US is the largest manufacturer of the world. The US economy stays on top because of its natural resources, sophisticated physical infrastructure, and well educated workforce. The economy is in a good place right now. It is expanding at a moderate pace contrasting from the US years ago.
Emerging from the recession in 2008 where the economy crashed bringing the housing market and several banks with it, the economy is slowly but surely recovering. Expansionary monetary policies are helping support the breakdown of the economy including deteriorating infrastructure, wage stagnation, rising income inequality , elevated pension and medical cost, and a large current account and government budget deficits.
The labor market is recovering and unemployment is down, but the economy is still not at its prime. The national unemployment rate is at a record 4.9 percent. There is about 222,000 new jobs per month but there is still much room for growth. Job growth is growing but because of the great recession, employment growth is still behind historical standards. Long term unemployment is down but overall it still remains high. Much progress has been made since the recession but the economy is still suffering from the effects.
Another effect of the current economy is the inflation rates. The US inflation rates hit a record 2 year high of 1.6. This is the highest inflation…

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