Demand and Supply Pattern in US after Recession of 2008 Assignment Help
How do you think the Demand and Supply patterns have changed in the United states since 2008 when the recession started?
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The 2008 recession is considered to be one of the worst crisis after the 1930 Depression Period. However, post the recession, the markets have started to recover as the US government has taken measures to overcome this vital challenge.
During the recession period, almost 8 million people lost their jobs and the economy was erased by nearly trillions of dollars. But it seems that in the recent time the demand and supply of different items in a given economy has increased. A meaningful rebound in the US economy has taken place as the organizations are observing a shift in the consumer pattern in the last two-three years' period (Popescu & Seshadri, 2013).
The Conference Board's sentiment index has increased to 72.2, which is highest since the recession period of 2008. Further, lower gasoline prices, recovery of the real estate industry, and increase in demand of day-to-day items among the consumers indicates that the economy is improving in the present time (Popescu & Seshadri, 2013).
As per the research reports of the government of 2015, it was found that the unemployment rate was decreasing. Also, the Consumer Comfort Index increased to 56.2 from -34.7 during 2008. In addition, the total demand of the items irrespective of any products has increased by more than 100% since 2008 in the current period.
One can also attribute the factors of globalization and the growth of the developing countries during this period that has led to again booming of the US economy in the world (Roberts & Schlenker, 2013). However, the government needs to remain careful, prepare the contingency plan, and also assist people whenever such situation again hits the entire nation.
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