The Economic Environment of the USA 2015, Research Paper Example

As of 2013, the current measured GDP for the United States was 16.77 trillion USD. Furthermore, the unemployment rate was 5.5% as of 2015 (Bureau of Labor Statistics). Furthermore, since 1970, there has been a 2.2% annual growth in the GDP and unemployment rates have risen from 3.9% in 1970. However, in the last five years, it appears that there has been a significant decrease in the unemployment rate; in 2010, the unemployment rate was 9.8%, nearly double what it is today. These numbers indicate that the economic situation of the country is improving significantly. The GDP is a direct measure of the growth tied to the market value production that flows through the economy. As a consequence, the nation is selling more goods and services, making a greater profit and allowing the economy to become more stable over time. Furthermore, the reduction of the employment rate indicates that there are more jobs available for the individuals that are eligible in this country.

2010 had a high unemployment rate, which marked a period of economic recession in recent history. However, legislation and law enforcement that has been passed in the past five years has helped contribute to a reestablishment of the strength that is the American economy. According to the current GDP trend, it is likely that the GDP will continue to increase an average of 2.2% over time, provided that economic policies that guide market practices remain relatively constant. Ultimately, this slow growth is beneficial because it allows the nation to adjust to needs associated with the growth in a manner that will allow the economy to remain more stable over time.

Works Cited

Bureau of Labor Statistics. Databases, Tables & Calculators by Subject. N.D. Web. 1 June 2015.