Signs of the economic times. LEQ: How has the economic trends from 1980 to present changed in the United states?. Key Terms: Inflation Unemployment Gross Domestic Product (GDP) Gross National Product (GNP). Economic indicators. Traditional Indicators. Alternative Indicators.
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LEQ: How has the economic trends from 1980 to present changed in the United states?
Gross Domestic Product (GDP)
Gross National Product (GNP)
The Stock Market
Adult Literacy Rate
Children Living in Poverty
GDP and GNP per capita
Number of Homeless
Amount of Leisure Time
Health Care Costs
Child Care Costs
Longer Work Hours
Stress, Isolation, & Scapegoating
Families Hunkering Down
Fear of Crime and Terrorism
Anger at Immigrants
By some measures, the U.S. economy has done well…….
Most income growth has gone to the top 1%
Wealth is even more concentrated at the top
Wages have not recovered to early-1970s level
Gap between highest and lowest paid workers soared
But the rising tide has only lifted a few boats (yachts)
These trends are alarming, especially in light of how quickly (less than 20 years) they have occurred.
Directions: In partnerships read Underemployment and Shrinking Benefits. Write the main idea for each article on the sticky notes provided.
Temporary and part-time work distorts unemployment statistics. Underemployment statistics leave out many people, including people in prison and those people who have become discouraged and are no longer seeking employment.
Summarize: In the 1950s, ’60s, and ’70s, the jobs people could get with just a high school education paid enough to support a family, buy a house, pay for college education for their children, and retire with a pension (retirement income) plan. Now, many jobs people obtain with a high school degree don’t even pay enough to cover the costs of rent and food.
“Why do you think it is important to pay people a living wage regardless of their educational level? Why not?”