The 1981-82 recession was the greatest economic slump in the United States since the Great Depression, prior to the 2007-09 recession. Indeed, the over 11% unemployment rate attained in late 1982 remains the postwar era’s pinnacle (Federal Reserve Bank of St. Louis). During the 1981-82 recession, unemployment was widespread, but manufacturing, construction, and the auto […]
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Between 2010 and present, the dollar saw an average annual inflation rate of 2.22 percent, resulting in a total price increase of 30.11 percent. What will be the rate of inflation from 2009 to 2020? Between 2009 and present, the dollar saw an average annual inflation rate of 2.17 percent, resulting in a 32.25 percent
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With the enactment of the New Deal’s National Industrial Recovery Act in 1933, the first federal minimum wage was established. The ultra-right Supreme Court of the time quickly declared it unconstitutional. In 1936, President Franklin D. Roosevelt ran for reelection on the promise of continuing to fight for a federal minimum wage. In contrast, the
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Healthcare, food, consumer staples, and basic transportation are examples of generally inelastic industries that can thrive during economic downturns. During a public health emergency, they may also benefit from being classified as critical industries. What industries thrive during a downturn? While some industries are more vulnerable to economic fluctuations, others tend to do well during
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SINGAPORE: After achieving multi-year highs on the strength of a strong economy, inflation is swiftly emerging as a key concern this year “External and local causes have combined to create a “perfect storm.” According to the most recent official figures, Singapore’s headline or total inflation for December increased to 4% from 3.8 percent in November,
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One of the best things about working for the government is your pension, and one of the best things about your pension is the cost of living adjustments (COLA) you get in retirement. Are government pensions inflation-adjusted? The good news is that if you retire and reach the age of 62, you will receive a
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The GDP Deflator method necessitates knowledge of the real GDP level (output level) as well as the price change (GDP Deflator). The nominal GDP is calculated by multiplying both elements. GDP Deflator: An In-depth Explanation The GDP Deflator measures how much a country’s economy has changed in price over time. It will start with a
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Inflation, according to economists, occurs when the supply of money exceeds the demand for it. When inflation helps to raise consumer demand and consumption, which drives economic growth, it is considered as a positive. Some people believe inflation is necessary to prevent deflation, while others say it is a drag on the economy. Some inflation,
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“While cash isn’t a growth asset, it will typically stay up with inflation in nominal terms if inflation is accompanied by rising short-term interest rates,” she continues. CFP and founder of Dare to Dream Financial Planning Anna N’Jie-Konte agrees. With the epidemic demonstrating how volatile the economy can be, N’Jie-Konte advises maintaining some money in
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Retail and wholesale trade industries led the increase in private inventory investment. The largest contributor to retail was inventory investment by automobile dealers. Increases in both products and services contributed to the increase in exports. Consumer products, industrial supplies and materials, and foods, feeds, and beverages were the biggest contributions to the growth in goods
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