Topic > The Current State of the US Economy

The news media, television, radio, print or social media provide 24-hour information about the economy. People aren't so sure about reports coming out almost hourly that say the U.S. economy is improving. Many Americans are still out of work and do not believe their income can continue to support their families. The cost of buying a home is rising in many areas of the country, which is good for the market, but can be bad for first-time homebuyers. Unemployment, expectations, consumer income, interest rates are economic factors that influence the behavior of individuals and the fiscal policy of the United States. Examples of the above current factors are provided below. Furthermore, the summary attempts to identify and evaluate the current US fiscal policy, supply and demand, and Keynesian and classical model perspectives so as to have a better understanding of the current state of the US economy. there has been a steady decline in the unemployment rate. In November 2013, the United States had an unemployment rate of 7 percent, down from 8.1 percent in 2012. We can help create jobs in the following industries: transportation and warehousing, healthcare, and manufacturing ( US Department of Labor, 2013) . The fastest growing states for job growth are California, Florida, New Jersey, North Carolina, South Carolina, and West Virginia by 2013 (U.S. Department of Labor, 2013). The government will continue to keep unemployment rates low by creating jobs and maintaining lower tax rates to give the community the opportunity to continue spending. Expectations The world economy...... middle of paper ......11). Failure to extend emergency unemployment benefits will hurt unemployed workers in every state. Retrieved from http://www.cbpp.org/cms/index.cfm?fa=view&id=4060Suchecki, P. (2014, January). Dealing with Volatile Mortgage Interest Rates/Locking in to a Fixed Rate Mortgage, paragraph 3. Retrieved from http://www.mybanktracker.com/news/2014/01/08/dealing-volatile-mortgage-interest-rates/The Business Directories. (2014). Retrieved from http://www.the businessdirectory.com/definition/interest-rate.htmlThe Free Dictionary. (2014). Retrieved from http://www.thefreedictionary.com/interest rateU.S. Department of Commerce. (2013). GDP and Economy. Retrieved from http://www.bea.gov/scb/pdf/2013/12%20December/1213_gdp_and_the_economy.pdf U.S. Department of Labor. (2013). Economic press release. Retrieved from http://www.bls.gov/news.release/laus.nr0.htm