The United States unemployment rate has fallen dramatically over the past decade. Last month the official rate was 4.3 percent, down from 9.6 percent in 2010. Economists refer to today’s rate as “full employment”. Yet we read that unemployment is a problem and there are many long-term unemployed. Are these statements conflicting? No…both are true. The unemployment rate has fallen, but there are many unemployed who are not included in the unemployment rate, and the economy has passed them by. To More

Economics is the study of how every business, person, and government allocates their limited resources. A resource must be useful to be classified as a resource. Chances are new economic students have covered the economic principle of scarcity in their first lesson. If a resource is not scarce, it means it is readily available at no charge. Can you identify the only resource that is not scarce? Listed below are several of the suggestions made by my students and the only resource that is not scar More

For the first time in 99 years, a solar eclipse was visible from coast to coast across the United States. Click to read our analysis of the Economic Impact of the Eclipse. More

The US economy continues to grow, inflation remains low, and employment is rising. Stock markets continue to hit record highs fueled by positive corporate earnings. Read more at Higher Rock Education! More