Economic Environment

Topics: United States, Economics, Unemployment Pages: 3 (1101 words) Published: September 20, 2008
The United States economic environment consisted of many criteria between the years 1999-2003. One factor of influence on the economy was the unemployment rate of Americans. Personal income was another factor that played into the economy. Another economic factor was the price of oil. The last factor was that of the unimaginable War in Iraq. These factors all combined to impact the economic environment. Unemployment rates have always been atop Americans minds. Today more than ever, Americans worry about the safety of their job. From the Bureau of Labor Statistics Data website, I found the following results. During 1999, the unemployment rate of people aged 16 years and over was 4.3% at the beginning of the year, with minor fluctuations that resulted in 4.0% at the end of the year. During 2000, the unemployment rate was 4.0% at the beginning of the year with again, minor fluctuations that resulted in 3.9% at the end of the year. However, during the year 2001, there were significant unemployment rate jumps. From the months of January to July, there was very little change. A 0.3% jump was recorded from July to August. During May of 2001 to the end of the year, there was a constant increase in the unemployment rate. The rate was 4.3% in May and increased to 5.7% in December. September 11 undoubtedly played a role in this unemployment catastrophe which is shown by the jump in September of 5.0% to 5.3%. 2002 was another fairly unchanged year with a starting unemployment rate of 5.7% and an ending rate of 6.0%. During 2003 there were some variations. A starting rate of 5.8% was reported in January and increased to 6.3% in June. From there till the end of the year there was a decreasing rate to 5.7%. Unemployment leads to fewer Americans spending less money because they have less money to spend.

The national income is something that has always mystified me. What surprises me even more though is that every year the national income has increased. In...

References: Bureau of Economic Analysis,
Bureau of Labor Statistics Data,
CNN, Phil Hirschkorn,, Oct. 29, 2003
Public Citizen,; Tyson Slocum, September 5, 2005
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