Unemployment Inflation and GDP growth rates.
Unemployment Inflation and GDP growth rates: This paper seeks to plot out the unemployment rate, inflation rate and GDP growth rate from 2000 to 2003 and describe trends or patterns of those rates.The rate of unemployment is influenced by a number of factors.
These factors include the economic environment, the labor market’s institutional framework, as well as a number of social factors like reception of working hours and the willingness to change locations and incorporate more training with the aim of securing more employment (Unemployment Rate Trends).
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The GDP Growth Rate in the US is reported by the Bureau of Economic Analysis. From 1947 to 2013, the growth rate averaged 3.2 Percent peaked at 17.2 Percent in March 1950 and attained record low of -10.4 Percent in March 1958 (Taborda).
The US is proud to have one of the most diversified and most technologically advanced economies in the world. The GDP is very inconsistent. It is seasonally adjuste and shows a change in one quarter compared to another quarter. Due to climatic conditions and holidays, the intensity the production varies throughout the year (Taborda).
Inflation and unemployment rates have been on a rising trend as seen in recent years. This implies that the strategies and policies of the government need re-working to address these problems and bring the economy back on track to achieving any set targets e.g. An 8 percent GDP growth rate by 2015 (Inflation, Unemployment and Growth Trajectory).
Inflation, Unemployment and Growth Trajectory. Retrieved from http://cdkn.org/resource/inflation-unemployment-and-growth-trajectory/
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