This means that the economy will take into account

This preview shows page 2 - 5 out of 9 pages.

This means that the economy will take into account the value of everything produced by all the people and companies in the country. More than that, the real GDP is the one indicator that says
the most about the health of the economy. With growth, the economy will be showing signs of strength. For the year of 2017 and beyond, it is being forecast that the unemployment rate will drop to 4.5 percent which is better than 4.7 percent from previous months. Moreover, President Trump proposed bringing U.S. companies facilitated in foreign countries back to the United States. This will bring back employment opportunities for the people of our country and possibly reduce a percentage of the unemployment. A possibility for increasing job opportunities and growth may be by lowering tax rate across the board. Unemployment in the US There has been low economic progress after the great economic recession. According to ( Corrado et al. p 663) , the unemployment rate in the US increased in the year 2006 to 2010. The increase in the unemployment was attributed to the aging population who could not take part in any active economic activity in the country. This means that during this period the country experienced negative economic growth. However, the country has been making progress from 2010 to the current period. Currently, the country is making good economic progress towards obtaining full employment opportunity. The most recent economic data indicates that there has been increasing in the number of job opportunities. In the current economy, there is decline in the headline unemployment rate which stands at 4.4%. In the last seven years, there has been a consistent decline in the in the unemployment rate with approximately 180,000 new jobs created monthly as shown in the graph below ( Corrado et al. p 666) . In this regard, it is clear that the US has been experiencing the economic growth. Besides, to the decline in the unemployment rate, there is also an increase in the labor force participation which has greatly resulted in the US economic development. Inflation rate
The inflation rate is another factor that determines the economic growth of the US economy. The trend in the inflation rate was on the peak during the year 2006 and declined gradually towards 2010. This means that there was a growth of the economy during the year 2010 ( Fernald, John and Charles P 45) . However, after the year 2010, the inflation rate has been increasing and expected to rise higher in the recent coming years. The rise in the inflation rate has led to the rise in the food and fuel prices. With regard to the inflation rate, it can be said that there has not been economic growth in the country over the recent period. The rise in the inflation rate lowers the value of the domestic currency against foreign currency resulting in the domestic currency becoming weaker against foreign currency. Healthcare services The US national health indicates high growth in the economy. From the year 2006, the US citizen has been able to receive better health care services that have to enable growth in the US economy. The introduction of the universal in the US health care services has promoted good health of the citizens the act that allowed the increase in the productivity of goods and services (Gordon p 34) . The growth in the national health expenditures by the government has facilitated active participation in the economic development and eventually the growth of the economy. A

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture

  • Left Quote Icon

    Student Picture