According to the report published by the United States Census Bureau in September 2019, the official poverty rate declined 0.5 percentage points from 12.3% to 11.8% in 2018 which means there are now 1.4 million less poor people in the United States. The poverty rate among the women has also declined according to the report and they are making significant gains in terms of … [Read more...] about Poverty among women in the United States
The U.S. Census Bureau collects and publishes data and estimates each year related to economic trends and how they affect the economic well being of individuals, families and households. Census Bureau’s report on income and poverty in United States is based upon the 2018 and earlier current population survey (CPS) as well as Annual Social and Economic Supplements (ASEC). Below … [Read more...] about United States Income and Poverty
Share of the African Americans in the US population has kept rising. They are a significant part of the civilian non institutional population and constitute a major share of the U.S. labor force. Data on the participation of African Americans in the US labor force was first collected in the year 1972. Then they were around 10% of the entire US work force. There were total 87 … [Read more...] about African Americans in the U.S. labor Force
Employment in the E-commerce Industry The U.S. e-commerce industry has grown fast in size in recent years and so has the number of jobs in it. Hundreds of thousands of workers are fulfilling orders in the e-commerce industry. Online shopping trends and the number of online shoppers has grown, and with it has the number of the E-Commerce workers. Electronic shopping … [Read more...] about Employment in the e-commerce industry
20 Highest paying Occupations in U.S. based on Median Pay 2017 As per a 2018 report by Bureau of Labor Statistics, the following were the 20 best paid occupations in US based on their median wages for 2017. Job Outlook: Top seven among these best paid occupations were related to healthcare including Anesthesiologists, Surgeons, Orthodontists, Oral & Maxillofacial … [Read more...] about 20 Best Paying occupations in U.S.
Local buying advantages and disadvantages for the local economy Local buying, many argue is beneficial for the local economy. According to several, it can have significant advantages for the local economy. However, there are also certain flaws of the concept that have been noted. Still, there are certain benefits of the local buying concept that cannot be disregarded. It can … [Read more...] about Is local buying favorable for the local economy or not?
What factors have led to the decline in LFPR? Labor Force participation rate implies that proportion of the population which is above 15 years of age and economically active. It means the people above 15 who are a part of the labor force and are involved in the production of goods or services over a specified period. In 2015, this rate had fallen to a 38 years low, down to … [Read more...] about Reasons Behind the Decline in Labor Force Participation Rate
In what way does OPEC resemble a cartel? How successful is it? A 'Cartel' is defined as an association of manufacturers and suppliers. Its purpose is to maintain high prices and to restrict competition. In that sense OPEC (Organization of Petroleum Exporting Companies) is not just a cartel but an influential and successful one. It resembles a cartel in multiple ways. … [Read more...] about OPEC as a cartel
How does OPEC control oil prices? Organization of the Petroleum Exporting Countries (OPEC), remains an important force behind the oil prices globally. There are several mechanisms through which it can influence the prices of oil. However, primarily it is its control over its member countries that allows the organization to influence the prices. It sets production … [Read more...] about OPEC’s Control on Oil Prices
The Wealth of The Nations by Adam Smith: Division of labor The Wealth of The Nations by Adam Smith was published in 1776. Book 1 of ‘The Wealth of Nations’, deals with Division of labor. Smith’s book had been published at the dawn of the Industrial age. However, it was also the time when labor conditions were very bad. Around the world, the workers had to face poor … [Read more...] about Division of labor: Adam Smith
BUDGET DEFICIT Budget deficit means a financial condition where the spending is above the earnings or revenue. The term is used in the context of the government and is measured generally over the period of one year. Budget deficit implies the difference between the government’s income and expenditure. Expenditure roughly includes everything the government buys and pays for … [Read more...] about Federal Budget Deficit and Federal Debt