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 …
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 …
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 …
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 …
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 …
Is local buying favorable for the local economy or not? Read More »
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 …
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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 …
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 …
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 …
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 …