United States Income and Poverty

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 … Read moreUnited States Income and Poverty

African Americans in the U.S. labor Force

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 … Read moreAfrican Americans in the U.S. labor Force

Employment in the e-commerce industry

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 … Read moreEmployment in the e-commerce industry

20 Best Paying occupations in U.S.

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, … Read more20 Best Paying occupations in U.S.

Is local buying favorable for the local economy or not?

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 … Read moreIs local buying favorable for the local economy or not?

Reasons Behind the Decline in Labor Force Participation Rate

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 … Read moreReasons Behind the Decline in Labor Force Participation Rate

OPEC as a cartel

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 … Read moreOPEC as a cartel

OPEC’s Control on Oil Prices

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 … Read moreOPEC’s Control on Oil Prices