Wednesday, February 10, 2016

How does the current trend in GDP in the U.S impact one as an individual?

The current trend in the GDP of the US affects different
people in different ways.  However, it is generally correct to say that the current
trend makes everyone's life seem less secure.


For most of
the last two years, the GDP of the US has been growing at a rather slow rate.  The
growth rate was only .4% in the first quarter of 2011 followed by 1.0% (according to the
current estimate) in the second quarter.  This is very slow
growth.


The average individual's life is made less secure
by such slow growth.  When the US economy grows slowly, our prospects for jobs in the
future are diminished.  Conversely, the likelihood of us losing our present job
increases.  This is because slow growth means that companies are less likely to
anticipate growth and are less likely to hire new people and more likely to lay off
current staff.


Of course, not all people are actually
impacted negatively.  However, on average, slow growth in the economy makes the job
outlook and, therefore, people's entire lives, less secure.

No comments:

Post a Comment

What is the meaning of the 4th stanza of Eliot's Preludes, especially the lines "I am moved by fancies...Infinitely suffering thing".

A century old this year, T.S. Eliot's Preludes raises the curtain on his great modernist masterpieces, The Love...