GDP & Employment/Inflation Essay

IntroductionThe current GDP growth rank for the US frugality stands at about 2.5%. It is interesting to note that in each of the at long last quarters of the years, the assess is amplyer, but at the set about of a new year the browse decreases in the first quarter. For physical exercise 2011, QIV is 4.9% while 2012 QI is 3.7%. The stage of the business cycle the US economy may be is the expansion/recovery stage since its GDP trends tape increase in most of the quarters.The GDP of any country may not be considered as an accurate economic well-being peak of a country since it only measures one aspect, the economic performance of a country and ignores other issues (Gordon, & National Bureau of Economic enquiry host on Business Cycles, 1986). The limitations include GDP does not consider pretension or deflation, does not measure externalities and interchanges 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 isolated on race basis. The rate for the blacks is quite higher, at about 12.0% in Feb. 2014, compared to 5.8% whites or even 8.1% Latinos or Hispanic in the same month. The rate for the unemployed blacks ranges about between 11% and 13% over the last periods. Unemployment is high in blacks, and teenagers at 21.4%. Men have higher rate of 6.4% in Feb.2014 compared to women at 5.9% which seems to change very slightly. Unemployment rate is utter 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 economic crises. Berlin Springer.Gordon, R. J. (2004). Productiv ity growth, inflation, and unemployment The collected essays of Robert J. Gordon. Cambridge (UK Cambridge University Press.Gordon, R. J., & National Bureau of Economic Research Conference on Business Cycles. (1986). The American business cycle persistence and change. Chicago University of Chicago Press.McEachern, W. A., & Thomson South-Western. (2008). Contemporary economics. Mason, Ohio Thomson South-Western.