WEEK 5_ CASE STUDY Macroeconomic Challenges_ Unemployment and Inflation.docx

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WEEK 5: CASE STUDY Macroeconomic Challenges: Unemployment and Inflation Team 4 Sofatu Celestine: [email protected] Sean Simcik: [email protected] Brian Flinn: [email protected] ECON 545 – Business Economics Dr. Shotwell October 7, 2018
Amazon GDP Growth Graph
Unemployment Rates by Gender Unemployment in September 2018 hit the lowest level since the Vietnam War, with little indication it is going to shoot back up in the near term. The jobless rate fell to 3.7%, the lowest since December 1969, the Labor Department said Friday. Employers added 134,000 jobs to payrolls, a record 96th straight month of gains. Wages rose 2.8% from a year earlier, a solid if still unspectacular rise. Unemployment rates below 4% are extremely rare in 70 years of modern record-keeping. The two longest sustained periods came during the Korean and Vietnam Wars, when the combination of strong growth and the enlistment of young men from the civilian labor force helped to largely wring unemployment out of the economy. In 1953, the year the Korean War ended, the jobless rate got as low as 2.5%. In the 1960s, it stayed below 4% for nearly four
years, until a bout of rising inflation and interest rates led to recession and rising joblessness.

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