Economic News Investigations
By: Isaiah Sparks
should we raise minimum wage?
Millions of fast food workers went on strike in order to persuade the government to raise the minimum wage to $15. Many people want this because it be a considerable pay increase for a lot of people. Those who oppose say it will hurt job growth. This is because if companies pay people more, they will higher less people in order to balance between their profits and loss. This article is relevant to our class because we talked about unemployment rates and what counts as unemployment. If we raise minimum wage, companies will lay people off or not higher people at all. This will in turn raise our unemployment rate. LINK: http://www.cnbc.com/2015/11/10/fast-food-workers-strike-seeking-15-wage-political-muscle.html
Business's are hurting GDP.
The nations GDP in the third quarter went up by only 1.5%. It was supposed to go up by 1.6%. Many economists believe this is because businesses restocking their warehouses less often. The GDP is expected to recover in the fourth quarter. This is because consumers are starting to buy more because they feel secure due to cheaper gasoline and firm housing markets. This article relates to our economy class because We talked about GDP a lot and reasons as to why the GDP is lower or higher. This article is a key example of how a nations GDP can be less than expected. LINK: http://www.cnbc.com/2015/10/29/us-q3-gross-domestic-product-oct-29.html
China is holding back World's economy.
The worlds economy is going to be completely trashed but it isn't expected to grow either. This is because China's economy has been slowly declining. This in turn slows down the global economy by a considerable amount because china has the worlds second largest economy. China has boughten a lot of raw materials. If the worst of china's slowdown has already happened then the world can rebound in 2016. This article relates to economy because it is an example on how the worlds economy works. LINK: http://money.cnn.com/2015/11/10/news/economy/global-economy-2016-oecd-conference-board/
Unemployment rates fall by 7,000
The number of jobless people filing applications for unemployment decreased by 7,000. This is great considering the slowdown in the nations job growth. Some economists believe the slowdown is due to the fact that employers cant find qualified people for the job. The decrease in unemployment applicants is a record low. This article relates to our economic class because we talked about unemployment and this article is a great example of how unemployment works and can change. LINK: http://www.cnbc.com/2015/10/15/us-jobless-claims-fall-7k-revisit-42-year-lows.html
US Wholesale Inventories are increasing.
US Wholesale Inventories rose more than expected. This in turn increases the nations GDP. this is because inventories count as a factor in calculating GDP. A higher GDP is better for the nation's economy. This article relates to our economy class because we talked about GDP and what factors are used to calculate it. This article is a great example on how certain things can raise or lower a countries GDP. LINK: http://www.cnbc.com/2015/11/10/wholesale-inventories-rise-05-in-september-versus-expectations-for-01-gain.html