GDP & Employment/Inflation Essay

creative activityThe current GDP growth station for the US scrimping stands at astir(predicate) 2.5%. It is interesting to none that in each of the end quarters of the years, the stride is taller, unless at the start of a bare-ass year the score decreases in the freshman quarter. For example 2011, QIV is 4.9% while 2012 QI is 3.7%. The constitute of the business steering wheel the US economy may be is the expansion/ recuperation stage since its GDP trends show increment in nearly of the quarters.The GDP of any country may not be considered as an accu ordinate scotch offbeat measure of a country since it simply measures one aspect, the economic performance of a country and ignores other issues (Gordon, & National toilet table of Economic Research Conference on Business Cycles, 1986). The limitations include GDP does not consider fanfare or deflation, does not measure externalities and changes due to change in change in exchange rate and it does not measure black markets or illegal transactions (McEachern, & Thomson South-Western, 2008).Unemployment and InflationThe most surprising is the rate of unemployment separated on race basis. The rate for the blacks is quite higher, at about 12.0% in Feb. 2014, compared to 5.8% whites or thus far 8.1% Latinos or Hispanic in the equivalent month. The rate for the unemployed blacks ranges about betwixt 11% and 13% over the last periods. Unemployment is high in blacks, and teenagers at 21.4%. work force have higher rate of 6.4% in Feb.2014 compared to women at 5.9% which bets to change very slightly. Unemployment rate is low among the highly educated (Gordon, 2004). Women seem to have higher chances of employment since their unemployment rate is low compared to males. The teenagers are still in schools hence higher rate. The rates high rates of unemployment could also be attributed to inflation which causes loss of jobs (Carlberg, 2012).ReferencesCarlberg, M. (2012). Unemployment and inflation in ec onomic crises. Berlin Springer.Gordon, R. J. (2004). Productivity growth, inflation, and unemployment The collected essays of Robert J. Gordon. Cambridge (UK Cambridge University Press.Gordon, R. J., & National means of Economic Research Conference on Business Cycles. (1986). The American business cycle Continuity and change. Chicago University of Chicago Press.McEachern, W. A., & Thomson South-Western. (2008). present-day(a) economics. Mason, Ohio Thomson South-Western.