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Tuesday, March 18, 2014

2 Significant U.S. Economic Reports to Read

Many workers worried about the stability of the economy in the U.S. have the right to decide if the government has taken steps to better the interest of workers. But to do so, they must refer to data recounted in economic reports gathered by officials and employers alike. It pays. Which economic reports carry the most significance for workers and families?




National Gross Domestic Product:

The total output of goods and services produced annually by labor and property in a nation, economic reports of gross domestic product in the United States remains the most exhausitive report on labor. Workers should become familiar with the totals to gather a sense of what is normal for the economy considering the economic forces.

Particularly, the GDP totals fluctuate between 2.5-4% each quarter. Both "real" and current dollar totals report the growth of the economy. The U.S. reports a GDP of around $50,000 per capita.


Unemployment Rate:

Also, economic reports on unemployment provide the labor force suggestions on how volatile the labor market stands at a given time. Is it easier to get a new job? Which sectors are hiring?

The unemployment rate reported by the Bureau of Labor Statistics each month gives a comprehensive view of the health of the labor market in the U.S.. Of course, the numbers won't fluctuate as much as the GDP, but workers should notice that the rate remains steady at around 7% in the U.S..


Issues:

What measures can workers take to improve current work conditions? Which labor sectors remain steady since the Recession?





                                                  SOURCES:

                                          -http://www.bea.gov/
                                          -http://www.bls.gov/eag/eag.us.htm

                                                  KEYWORDS:

                   economic report; unemployment rate; gross domestic product
                                                        
                                                          

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