The Current State of the United States Economy

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The news mediums, television, radio, print, or social media give information 24-hours a day regarding the economy. Individuals are not so sure about the reports issued on almost an hourly basis that are stating the economy of United States is improving. Many Americans are still without jobs, and do not believe their income can continue to support their families. The cost of purchasing a home is going up in many areas across the country, which is good for the market, but can be bad for the first time homebuyer. Unemployment, expectations, consumer income, interest rates are economic factors that influence individuals behavior and the United States fiscal policy.
The following gives examples of the aforementioned factors current climates. In addition, the summary attempts to identify and evaluate the United States current fiscal policy, demand and supply, and Keynesian and Classical model perspectives so that one has a better understanding of the current state of the United States economy.
Unemployment
During the last year, there has been a steady decline in the unemployment rate. In November 2013, the United States reported a 7% unemployment rate, down from 8.1% in 2012. We can contribute the job creation to the following industries, transportation and warehousing, health care, and manufacturing (United States Department of Labor, 2013). The fastest growing states for an increase in jobs are California, Florida, New Jersey, North Carolina, South Carolina and West Virginia within the 2013 year (United States Department of Labor, 2013). The Government will continue to keep unemployment rates down by creating jobs and keeping lower tax rates to give the community opportunities to keep spending.
Expectations
The world econ...

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...11). Failure to extend emergency unemployment benefits will hurt jobless workers in every state . Retrieved from http://www.cbpp.org/cms/index.cfm?fa=view&id=4060
Suchecki, P. (2014, January). Dealing With Volatile Mortgage Interest Rates/Lock in a Fixed Rate Mortgage, paragraph 3. Retrieved from http://www.mybanktracker.com/news/2014/01/08/dealing-volatile-mortgage-interest-rates/
The Business Directory. (2014). Retrieved from http://www.the businessdirectory.com/definition/interest-rate.html
The free dictionary. (2014). Retrieved from http://www.thefreedictionary.com/interest rate
United States Department of Commerce. (2013). GDP and the Economy. Retrieved from http://www.bea.gov/scb/pdf/2013/12%20December/1213_gdp_and_the_economy.pdf
United States Department of Labor. (2013). Economic News Release. Retrieved from http://www.bls.gov/news.release/laus.nr0.htm

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