Higher Rock Education - Economics Blog

State of The Economy - August 2021

Wednesday, September 15, 2021

Grasp the state of the US economy by reviewing four graphs and documents. Included are the BEA's real gross domestic product estimate, and its Personal Income and Outlays. The Bureau of Labor Statistics Employment Situation and Inflation reports are also reviewed. A summary and analysis is also provided. More

State of the Economy - July 2021

Wednesday, August 11, 2021

The US economy is gaining momentum, but the Delta variant of the coronavirus threatens the recovery. Real gross domestic product now exceeds pre-pandemic levels. Having been confined for over a year, people are spending more time outside their homes, traveling, dining out, and buying apparel. Their spending has spurred demand to a point where suppliers cannot deliver many products promptly. The shortages have propelled prices and wages higher, particularly in the leisure and hospitality industries. Read our summary of vital statistics and analysis to learn more about the US economy’s progress and where it is heading. More

State of the Economy - June 2021

Monday, July 19, 2021

An economy’s potential depends on its resources, and the US economy’s most vital resource is its people. The economy continues to expand, but it is hindered because growth in its aggregate supply has not kept up with growth in its aggregate demand. Record increases in income propelled the economy through the second quarter. But the economy’s growth has been limited because many people fearing COVID have chosen not to return to work. Shipping problems have also constrained aggregate supply. Inflation is the consequence when an economy’s aggregate demand increases at a faster clip than its aggregate supply. To learn more about the US economy’s progress and where it is heading, access the government reports here and read our summary of vital statistics and analysis. More

State of the Economy - May 2021

Friday, June 11, 2021

The US economy is booming. Service industries, such as restaurants, have benefitted the most from the rebound. But businesses have had trouble hiring. Many of their former employees have found new jobs or remain reluctant to return to work. Companies are offering incentives to attract new employees. They also must train them. Cost increases and a pent-up demand have pushed prices higher. Will the boom continue? Will it result in prolonged inflation? To learn more about the US economy’s progress and where it is heading, access the government reports here and read our summary of vital statistics and analysis. More

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