The Current United States Economy
How many of you have to pay for your car, school, or another thing on your own while in college? That is why it is good to know about the country’s current financial situation. You need to be aware of events like the stock market crash in 2008. “A mix of factors, including low interest rates, widespread mortgage lending, excessive risk taking in the financial sector, high consumer indebtedness and lax government regulation, led to a major recession that began in 2008. ” It crashed because the leaders were not being ethical. They were not matching up with Missouri State’s pillars during this time. I have learned about our economy through extensive database research. Through my presentation you will learn about the current student debt, stock market, and overall economy. I will now talk about what maybe the most relevant point to all of us, student debt.
Student debt is a huge problem for our generation, but it is probably imporving more because of our economy than people realize. This summer for the first time in almost half a decade hourly wages outpaced the price of college. The educational debt-to-income ratio of millennials overall was 42. 4 percent in 2016, a steady decline from a high of about 47 percent in 2013. I could have talked about student debt for this whole time but I want to touch on other parts of the economy as well.
The stock market has continued to rise. Even with their ups and downs this year, stocks have been ultimately resilient. The market bounced back from its first 10 percent drop since 2011. And more recently it has held together despite periodic downturns sparked by fears of a looming trade war between the U. S. and China, the world's two biggest economies. The stocks resiliantly rose about 3% despite the tensions mentioned with China. Finally I will talk about the unemployement rate and other things making up our economy.
Unemployment rates have been down and our economic strength. Current unemployment rates. The Labor Department said Friday that the unemployment rate remained 3. 9 percent, near an 18-year low. In August, factories expanded at their quickest pace in 14 years. Americans’ paychecks grew at a faster pace in August. Average hourly wages rose last month and are now 2. 9 percent higher than they were a year earlier, the fastest year-over-year gain in eight years. Still, after adjusting for inflation, pay has been flat for the past year.
Our general economy growth. Zandi forecast that growth for 2018 will hit 3 percent, the best annual growth rate in over a decade. In 2019, he expects a solid 2. 6 percent growth rate. But in 2020 — a presidential election year — Zandi said he is forecasting economic growth of just 0. 9 percent, a pace that is so slow that it will raise the threat of a recession. The highest-yielding one-year CD tracked by Bankrate now yields 2. 35%, which is the best return in nine years.
Conclusion
Through my presentation you became more fimilar with statistics of our student debt, stock market, and our general economy. Our economy can help you save or make a lot of money. It is an important part of everyones lives that you should pay attention to. Now you all are more fimilar with the good and bad of the economy. Hopefully you all can take advantage of the positive parts and stay away from the negatives.
