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Hi, need to submit a 2000 words essay on the topic US Economic Situation.This essay discusses that .the problem lies in somewhere else. As the country is technically upgraded enough, the productio
Hi, need to submit a 2000 words essay on the topic US Economic Situation.
This essay discusses that .the problem lies in somewhere else. As the country is technically upgraded enough, the production technique they use in the industrial sector is mostly capital intensive. This leads to unemployment as the labour input is not extensively used in the production system. Nevertheless, the population of the country is not as high as the developing countries. Hence the unemployment rate is not so severe in this country. It has been found that the rate of unemployment in this country has remained at the level of 5.8 per cent for the last two years. The country has witnessed economic growth near about 5 per cent in the last quarter of this year.From this paper it is clear that .US economy is globally considered as a developed economy. However this paper will examine the amount of stress the country has witnessed in the path of development for the last two years. Globalisation has caused the integration of this economy with various developing as well as under developed and many other developed countries. The appreciation of the exchange rate causes low inflation and it influences the international trade in a greater extent. The United States achieves the score 76.2 in case of economic freedom. The freedom in business has fallen compared to the last year. However, control over the government spending has achieved modest gains compared to the recent past. .It has been found by the US officials that the unemployment rate of the country has fallen to 5.5 per cent in the last quarter.