Since the advent of the free-market system in the United States in the late 1970s, economic growth has been consistently stronger and more inclusive. During the Great Depression, America experienced a period of economic atrophy and suffered large percentages of joblessness. The Internet, global warming, and other environmental concerns helped spark a growth in consumer spending. As a result, the U.S. was one of the first nations to begin recovery from the recession and many experts believe that today's economic expansion is on the mend.
One of the main reasons for this current economic growth since the end of the last recession is the fact that people are saving more money. During the previous recession, people were cutting back on expenses and jobs were being lost. Now, those that have lost jobs or businesses are saving more money, and using that saved money to boost their spending and increase income. Even those who have not lost a job are also saving more money due to the fact that businesses are offering benefits and increasing hours. As a result, the working class has more spending power, which helps the economy grow. Additionally, since there are more people working now, the companies are having more customers.
Another economic growth indicator is that consumers are paying their bills on time. Many factors account for the fact that many individuals and businesses are paying their bills on time. Some of those are the advances in technology and payment methods like credit cards. While this might not seem to be much of an accomplishment, it is a positive sign that the economy is recovering.
Since the 1980's, there has been no fewer Americans feeling secure in their jobs or in their homes. After all, with so many changes taking place both socially and economically, people are holding steady and staying in jobs and homes. This increases the buying power of the average citizen. Unfortunately, one of the primary reasons for this economic growth since the 1980's is that there has been an increase in the number of foreclosures. Of course, once a home is foreclosed, that means that many more homes are available for sale.
Inflation has also played a large part in the economic recovery since the recession began. This is another cause of increased economic growth since the 1980's. As the cost of living increases, so does the purchasing power of individuals and businesses. Due to inflation, more goods and services are available at a lower price. The increased buying power helps stimulate the economy, which leads to an increase in income.
There are many indicators of . . . . . . economic growth since the recession began. These include the employment rate, household income, inflation, unemployment, home ownership, investment, consumer confidence, and more. When economic indicators such as these are combined with an overall positive economic outlook, it leads to an increase in consumer demand and the corresponding increase in business investment. Together these economic indicators lead to a powerful economic recovery and one that is likely to last for many years into the future.