Are people’s good and bad habits making Today’s economy? Today’s economy is not doing so well, with the recession and the stock market downfall economy only seems to get worse. An economy consists of the production and sale of goods to the consumers. Industries often try to use consumer’s weakness to increase their sales; examples of these can be smoking, drinking alcohol, and driving everywhere. The unemployment rate has sky rocketed and there are still more people losing their jobs. This economic recession has had an impact worldwide, as well as the global economy.
Since the New York State economy went into recession in August 2008 it is said to believe that New York Cityhas a 10.3 percent increase of unemployment. In October 2009, the private job sectors in New York State have decreased by 12,700 which is equivalent to 0.2 percent. The economic recession has affected all New Yorkers with many people losing their jobs the unemployment rate goes up. There has also been an impact on the global economy; all the products being imported are not selling. There’s an increase in supply but no demand.
The economic recession is believed to be heading into the great depression, with the loss of jobs many people have over stressed. This causes great problems due to the increase of suicides; people panic in these situations and feel like they have no other alternative. The statewide total for job loss has been 8,549,000 or 15,400 per month. These people are being laid off or are choosing to retire before it gets worse.
The economic concept consisting unemployment is easy to identify. When the economy is doing fairly and growing and expanding the unemployment rate is usually low. As if the economy is in a recession the unemployment rate increases. In our case the recent recession has led to a great amount of people to lose theirjobs. In addition the recessions distorted impact on the lower wage workers, and other factors to help limit the slow process of incomes. It...