How many Americans, on average, can't find a job? How fast is the US economy developing? Answers to these and other questions offers in his review of CNN Money.
At the peak of the global financial crisis, every tenth US citizen could not find work. To date, the situation has improved markedly, and the unemployment rate has dropped to 4,7%. However, there are fears that this indicator has doubled, since many people simply stopped looking for work and are no longer considered an active workforce.
The US economy is now in the middle of one of the longest jumps in its history. However, the problem is that this growth is not perfect. In recent years, growth has been about 2,4%, which is below the average of 3%. For the first quarter of 2016, the economy grew by 0,8%, and the Fed predicts an increase of 2% for the entire year.
Jobs
Since the beginning of 2010, when this figure reached its minimum, US authorities have created more than 14 million new jobs (this figure is often cited by President Barack Obama). In 2016, the pace decreased slightly - in the first 5 months, about 748 thousand positions were introduced, although in previous years by this time the figures had already exceeded one million.
Jobs by profession
Of the 10 occupations with the fastest job growth, according to the U.S. Department of Labor, half pay no more than $25 a year. This is so low that a family of three can apply for food stamps. These occupations include service and food service workers, chronic care assistants, and retail sales managers.
Middle class income
Social inequality in the United States is rising, partly because the incomes of the middle and working classes do not grow, while top management may feel very good. The average, by American standards, family earns $ 53,6 thousand, which roughly corresponds to the rate of 20-year-old, adjusted for inflation.
Gasoline prices
In recent years, gasoline prices have fallen very significantly. At the beginning of the year, Americans were paying less than $ 2 per gallon (3,7 liters), by June the price had risen to $ 2,33, but it was also very cheap. Such prices allow Americans to save hundreds of dollars on gasoline.
Government debt
The US debt currently stands at more than $19 trillion, but this figure is best viewed as a percentage of the state's GDP. And then it becomes clear that the American authorities have gone from 35% of debt from GDP in 2006 to the current 75%. The main reason is additional spending during the global financial crisis in order to revive its economy. America is far from Greece or Japan, where this figure reaches 200%, but the debt continues to grow in any case.
Real estate prices
The recession was partly caused by the real estate crisis. People lost their mortgaged property and jobs, without being able to purchase real estate. Particularly affected in this respect are the residents of Florida and Illinois. Before the crisis, the average property price was around $ 222 thousand, and only by 2016, it returned to the previous level.
Mortgage rates
Getting a mortgage has become more difficult since the financial crisis, but the good news is that mortgage rates have hit rock bottom. For example, in May, a 30-year fixed mortgage was available at a rate of 3,6%, down from a historical low of 3,35% in 2012. In 2016, the Federal Reserve System (FRS) plans to increase interest rates, which will have a slight impact on mortgages and other lending transactions.
Salary increase
Despite the general growth of the US economy and the fall in unemployment, wages in the US do not show the same dynamics. By May 2016, wage growth was 2,5%, which is significantly lower than the historical average of 3,5%, which Wall Street experts were counting on.
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