America s Economy Issues As A Whole Essay - 732 Words

Samra Balic 62-35 81 Street Middle Village, NY 11379 15 December 2014 Representative Grace Meng 118-35 Queens Boulevard Suite 1610 Forest Hills, NY 11375 Phone: 718-445-7861 Dear Representative Grace Meng: The purpose of this letter is to briefly introduce our nation’s economy issues as a whole. I am asking for you to make revisions to the federal law to improve the conditions necessary for economic growth and job creation. Despite job gains, a strong stock market, and faster economic growth this year, many citizens are still concerned about the economy. As of November 7th the U.S economy added 214,000 jobs, which makes the unemployment rate down to 5.8 percent, the lowest in six years. The unemployment rate fell from 5.9% to 5.8%, which is lowest since July 2008. Hourly earnings rose three cents to $24.57 and are up just 2% over the past year, in line with the unclear increases so far in the five year recovery. Economists have been looking for a pickup in wage gains to branch more consumer spending. This recent data implies that the slow progression out of the Great Recession is gaining control. However, Americans are seeing their purchasing power rise while jobs come back tha nks to falling oil prices. In my opinion, yes unemployment continues to decline as long as you carefully ignore the calculation of millions of people who are in fact still unemployed. The fact that millions of people have given up all hope of finding employment and are no longer seeking, andShow MoreRelatedIncome Inequality : Not All Live Equal Lives1198 Words   |  5 PagesIncome inequality is a major issue throughout society in the United States of America, due to a corrupt and inconsistent economy that is displayed for individuals to suffer through. Those who are rich or poor in the United States of America should not all live equal lives. 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