SEATTLE, Feb. 6, 2014 /PRNewswire-iReach/ -- There are several different methodologies through which the current state of the US economy is measured. Two of the simplest and most frequently used measures indicate a very different state of affairs, resulting in a somewhat muddled vision of the true state of the economy. Through careful analysis of both sets of data, United Cash Loans 123 has been able to assist in providing some clarity on the subject.
"It really depends on which set of data you are looking at," said a representative with United Cash Loans 123. "If you are referring to real gross domestic product, then we have seen steady growth since the so-called Great Recession. According to employment levels, the view of the economy is not as optimistic."
The real GDP is up by 5.6 percent according to recent data, illustrating the fact that the US is producing more output than when the Great Recession began. This set of data shows that the US has been able to achieve a total recovery by producing an output that exceeds the 2007 fourth quarter levels by $843 billion. What makes these numbers interesting, however, is that the jobless rate has not seen a similar recovery as production output has risen.
The recent US production output represents a record high, but this production has been able to occur with the US employing two million fewer workers than at the onset of the Great Recession.
"When you look at both data points – the employment rate and the real GDP – you can see that production has been able to increase significantly without the aid of those additional workers," said the representative with United Cash Loans 123. "The result is record levels of corporate profit."
Those corporate levels of profit check in somewhere around 40 percent above the pre-recession peak, though that number has not been adjusted for inflation. While corporate America is faring very well, the workers are struggling through slow job growth.
"It seems to be indicative of the fact that many corporations had to pare down their costs to survive through a time when some of these employees were a luxury," said the representative working for United Cash Loans 123. "These companies are now able to function more efficiently, which increases their profitability, but certainly does not aid job growth."
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SOURCE United Cash Loans