According to Mark Hamrick, Washington Bureau Chief, at Bankrate.com, “We go into 2015 and put the very bitter memory of 2007, 2008 behind us.”
With the national unemployment rate down to 5.8 percent, 2015 should be a good year for the economy. According to Hamrick, “The economy has really done a great job of damage repair, with acceleration here recently with the quality of jobs being added.” This trend will continue as employers are expected to continue adding workers in 2015 at a monthly pace of about 200,000 each month.
In addition to a lower unemployment rate, projected U.S. economic growth of nearly 3 percent over the next 12 months and stock prices near record highs should continue to fuel the nation’s economy. On the down side, expect the Federal Reserve to raise interest rates around June 2015. Also, there is the unknown factors of political and social unrest around the world and the typical global economic problems that could be a drag on the economy.
For more information, click here.
Note: There is a 2 minute video that accompanies this article that you may to use as part of your classroom presentation.
You may want to use the information in this blog post and the original article to
- Discuss the current state of the economy.
- Explain why unemployment rates, interest rates, political and social unrest, and global economic problems can affect the U.S. economy.
- Although many economists and investors are enjoying the economic recovery over the last few years, many individuals do not share the same optimism. How do you feel about the nation’s economy?
- Are you optimistic about your own economic future? What specific steps can you take to improve your personal economic future?