Economy Stats
The economic statistics cited by Patricia Cohen are meant to put a positive spin on an otherwise doubly-seasonally adjusted economy still limping under the Federal Reserve's guidance and policy of quantitative easing. Cohen calls it "strong job growth data," but there are scores of other stats that researchers use to indicate just the opposite, such as the correlative study of Labor Force Participation Rate and People not in the Labor Force by Durden (2015). Cohen's study is meant to put a good face on an otherwise grim economic outlook, and this paper will show how she does it.
Statistical Procedures Mentioned in the Study
There are no statistical procedures clearly delineated in the study by Cohen; however, it is evident that Cohen uses a number of procedures in order to present her findings. For example, Cohen uses correlations and ANOVA statistical analysis in order to arrive at her conclusion that, indeed, the economy is looking stronger. One correlation study that she uses is the relationship between higher wages being offered and an increase in jobs by 280,000 for May 2015. Cohen argues that the increase in wages may be what has led more people into the workplace: "Hourly wages…rose 0.3% last month, possibly helping to lure back some discouraged workers who had been staying on the sidelines" (Cohen, 2015). The argument is a dubious one that is based on nothing other than a supposed correlation and an apparent desire to see something positive in the latest round of economic data. Cohen ignores other possible correlation studies and even accepts the data generated by the Bureau of Labor Statistics (BLS) as authentic without questioning them or authenticating them on her own. This level of research is unacceptable for a serious level of analysis and therefore throws suspicion...
Abstract Growing health care expenditure contributes greatly to the American government’s financial wellbeing. Citizen burden when it comes to funding these expenses, in the form of growing taxes and increased long-term loans, constitutes the chief effect of this upsurge in governmental health expenses. Dealing with this issue necessitates active participation of every healthcare worker in process map creation and estimation of resource expenses surrounding patient treatment throughout the care cycle. Suggestions
Houston's economy is heavily dependent on the oil industry. Thus, when oil prices decline, the fortunes of Houston's economy should be expected to decline. In economics, the concept of stickiness applies. This means that the price of goods will move differently in the short run vs. The long run. Things like jobs and housing are generally sticky, so it would not be expected that the economy of Houston would change
U.S. Macroeconomics The current macroeconomic situation in the U.S. is bleak. The country is over $17 trillion in debt. It has given the right to coin currency to the Federal Reserve, which prints money then loans it to the U.S. government, charging interest, a system which can only logically lead to more national debt. Insanely, this system has been in place for more than 100 years. Today it is worse than
Oil Price History Similar to other goods’ prices, crude oil prices undergo major fluctuations during surfeit or dearth of crude oil. This particular product’s price cycle can span over many years, reacting to both demand variations and non- OPEC (Organization of the Petroleum Exporting Countries) and OPEC supply. Through most of the course of the last century, American petroleum rates were governed largely by price or manufacturing controls. The period following
Schwartz, N. D. (2016). Wages Rise as U.S. Unemployment Rate Falls Below 5%. The New York Times. Key Points from Article According to the article by Schwartz (2016), the United States unemployment rate crossed the 5% mark. In particular, owing to a steady decrease in employment and having healthy employment, the rate of wages substantially increase, which is an indication that the job market might be tightening substantially to compensate more to
Economics: The State of the U.S. Economy Cousin Edgar, a global investor, is seeking to capitalize on the thriving gasoline industry and the rising world demand for oil by purchasing several gas stations in the U.S. market. Inspiring his interest is the high price of gasoline, which he reckons will rise even higher in the near future, thanks to the urbanization and industrialization currently being witnessed in the developing economies of
Our semester plans gives you unlimited, unrestricted access to our entire library of resources —writing tools, guides, example essays, tutorials, class notes, and more.
Get Started Now