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An Outlook of US economic performance

In the days since the United States presidential elections, much has changed. The new President; Donald Trump, is a businessman by profession and has moved along, making new laws and bringing economic reforms, as a businessman. A nation’s economic well-being is measured by its GDP. The GDP is a monetary measure of the goods and services that are produced by the country(Amadeo, n.d.).

The United States’ economic performance in the current year is much better than in the previous year. This year, the GDP growth rate is expected to be between 2 % and 3 %, and the unemployment rate will be around 4.2 %. Already, the reports say that despite the hurricanes the economy has grown(Casselman, n.d.). According to some reports, the economy has been growing for the last eight years, the longest in U.S. history.

However, the Federal Reserve Bank’s Janet Yellen has said that many workers are part-time. Most of these workers are working in the ‘gig economy.’ The ‘gig economy’ refers to the freelance work that most people have started doing; like working for Uber. Yellen claims that people who are unemployed and work for the gig economy might be unable to return to high-paying regular jobs. It might make the employment rate seem low, but that does not mean that it is so.

A report on CNN claimed that the minimum wage has been set higher than the previous ones, at $ 7.25(“United States – Economic Forecast summary (June 2017) – OECD,” n.d.). It seems reasonable, especially for the pro-government economists. However, it doesn’t mean that the situation is any better. The reports suggest that the nature of jobs in the United States has shifted and the professions; previously in demand, no longer have any vacancy. Only those who have switched to a more current business have stable jobs and are living well. Overall, though, the country’s economy is growing, and it is possible for the nation to experiment with more new economic ventures.


Amadeo, K. (n.d.). What Will the Economy Do in 2017 and Beyond? Retrieved November 2, 2017, from

Casselman, B. (n.d.). A Peek at Future Jobs Shows Growing Economic Divides. The New York Times. Retrieved from

United States – Economic forecast summary (June 2017) – OECD. (n.d.). Retrieved November 2, 2017, from



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