U.s. Economy s Economy - 1330 Words

1 U.S. ECONOMY U.S. ECONOMY CRISIS Sheryle Leonard Colorado Christian University 2 U.S. ECONOMY Abstract The state of the U.S. economy has an impact on every American. There has been economic depression in this country since the collapse of the housing market in 2007, that has seen widespread unemployment and home foreclosure combined with conservative consumer spending. Research conducted through financial new websites, government reports and survey provided information on where the economy stands today as well as how Americans view the economy. The findings were that there are signs of improvement within the economy, yet those polled indicate they feel there is little change. Important steps have been made towards and economic recovery,†¦show more content†¦So, where does our economy stand now? Many Americans would like an answer to this question. In order to find an answer, we must look at the factors that drive this economy. The U.S Economy currently shows signs of improvement based on a declining unemployment rate increased consumer spending and falling foreclosure rate in 2011. The topic of unemployment is one that has affected Americans greatly during the recession. Millions of people in the United States have found it very difficult gain employment. Kirsten Wilson: Kirsten Wilson: Kirsten Wilson: Kirsten Wilson: 3 U.S. ECONOMY Many more find themselves underemployed or underpaid, or both. Job creation is a difficult task that has been compounded by budget cuts that have eliminated government positions. Currently there are approximately 13.1 million unemployed people in America according to the report by the Bureau of Labor Statistics. This is equal to an unemployment rate of 8.5% (â€Å"Employment Situation Summary†, 2012 p.1). These numbers may sound high very high; however, they actually represent a significant decline in unemployment as the rate has fallen 0.6% since August of 2011. The release by BLS (Bureau of Labor Statistics) also shows that there was an increase of 212,000