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Personal Finance: Current Economy Report

I wanna start this report by saying some things about your typical high schoolers and the truth about most of the students who study there.

The report found that more than 1.5 million public school students experienced homelessness in the 2019-20 school year, the highest in more than a dozen years. It was the highest number recorded in more than a dozen years, and experts said it reflected a growing problem that could negatively affect children’s academic performance and health. The report compared the 2017-18 school year with the 2015-16 school year and found a 15 percent increase in the number of students nationwide who experienced homelessness. The center compiles figures submitted annually by states to the federal government that include students who said they were homeless for even brief periods during the school year. Homelessness could mean sharing homes with other families during times of economic hardship or spending a night in a homeless shelter. The report did not offer reasons for the changes but experts pointed to diverse factors that may have helped drive the totals in a troubling upward direction. In many cases, districts have been getting better at identifying which students are homeless.

In 2012 and 2015 (as you can see on the chart below) there were huge dips in the Gross Domestic Product (GDP) records. These records are a statistical analysis of the marketable goods and services that were manufactured/distributed and ‘sold’ in a given period of time. This is supposed to be an accurate assessment on how the Canadian economy has progressed or digressed in relations to produced ‘goods’. However, as in all statistics, sometimes the GDP does not give an accurate report on the economy because it does not account for the black-market economy or the in-the-home economy such as the cooking, cleaning, home-repair projects, etc, that some people tend to do on their own.5 From the pattern on the chart, note the definite effect rendered from the decline of oil prices in 2015.6

Unemployment records are another form of statistics that are not always accurate because of a half-baked understanding of the number of jobs on the market, the number of individuals in the labor force, and the number of individuals who have actually dropped out of the labor force, leading to a “better” work-to-worker ratio.9 But the job market continues to fluctuate as a result of the overwhelming population.
According to Trading Economics, the unemployment rate has dropped (accounting for fluctuation) 0.4% since the start of 2018. It takes an especially optimistic viewpoint, vowing that the current unemployment rate is lower than ever before recorded with comparable data.10. According to Financial Post, Canada has the lowest unemployment rate in a decade, with 700’00 jobs added in the past two years.11 It appears Canada is doing exceptionally well as far as employment goes.

Situations in the Canadian economy include the recently renewed NAFTA, the Trans Mountain Pipeline, and the Carbon Tax.
The North American Free Trade Agreement (NAFTA) was instituted in 1994, about 25 years ago.1 It was renewed under new negotiations by Donald Trump between the US, Canada and Mexico to help reduce or completely abolish barriers in trading freely between countries. However, with or without NAFTA, if and/or when the US adopts a non-free-market take, Canadian economy will take its fair share of the toll, having always been very dependent on the state of affairs in the US.2

The Trans Mountain pipeline would cross Alberta and stretch to the BC coast. BC has strongly opposed it, due to environmental concerns, however many Albertans are eagerly pushing for the work to begin. Supporters of this project insist that oil shipments will increase and that therefore prices would go down and economy up, however some believe that reports from 2015 by Muse Stancil counter this argument.

U.S. has been the best economy wise. It was known to be a place of refuge for slaves and was always a popular land of immigration for new opportunities.

THANKS for reading this economic report of the U.S. I’ll post more soon and have a great day!

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