These days the economy and employment is a huge concern for many. Being unemployed is not an easy time for anyone and can lead to filing personal bankruptcy and maybe even losing your possessions.
Check out this informative infographic, to learn about the economy and how it stacks up in comparison to a much earlier America when unemployment wasn’t so common.
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How Real is an Economic Doomsday?
What Every American Should Know
The economy is at a pivotal point in the United States and employment is a concern for many. With the upcoming election, there are key factors that will influence your decisions to vote. In this infographic, you’ll learn a little about the economy and how it stacks up in comparison to a much earlier America when unemployment wasn’t so common.
Unemployment Yesterday and Today
- There has always been an unemployment rate, but in 2012, the number of jobless Americans started flirting with the record high.
- Average Time That People Are Unemployed Throughout History (in Weeks)
Unemployment Rates Throughout History
- Back in 2006, it was estimated that 5 million Americans were hired every month.
- Currently, an average of 3.5 million Americans are hired each month.
- Low-income jobs now account for 41% of total employment.
Median Percentage Change of Pay by Education Level of Men and Women 25 years and older between 1979-2010
- Many fear the rise of gas prices, making miles per gallon an important consideration when buying a new car or keeping their old one.
Price Per Unleaded Regular Gallon (1976-Current)
- As you can see, gas prices have changed drastically, but nothing has changed as drastically as the cost of food.
Monthly Cost of Food
Rough Cost of Inflation
- The effects of inflation are hard to comprehend, but they have had detrimental effects on the U.S. economy.
It may not be the end of the economy as we know it, but unemployment and cost of living has certainly increased. It has been predicted—by Steve Forbes, editor-in-chief of the popular business magazine Forbes, no less—that the U.S. may be forced to step back into the realm of basing currency value from the price of gold.
Check out Total Bankruptcy for more information.