The Economy of USA is expanded by 2.3% in 2019 according to the figures provided by the Congressional Budget office. The Economy of USA expanded 2.1% in the fourth quarter of 2019 followed by the same 2.1%. The America economy added 145000 jobs while the unemployment rate remained t 3.5%, 50 year low while wages grew by 2.9%.
This is the first time that the unemployment rate has dipped below 5% in the eight years. In the financial report, one really good development was wage rate which is related to the united states GDP per capita. The average hourly income rose 7 cents to $25.43. This means a 2.5% of annualized increase.
The US economic data of the current account deficit has been widened by $20.7 billion or 11.8 percent to $195.7 billion in the first quarter of 2021, according to statistics from the US Bureau of Economic Analysis. the first quarter deficit was 3.6 percent of current US economy GDP, up from 3.3 percent in the fourth quarter. The total size of the USA economy has surpassed its pre pandemic level.
BEA produces some of the most closely watched economic statistics that influence decisions of government officials, business people and individuals which is what the GDP of USA. The Economy of USA GDP has increased over the past few years.
What this means for International Students
This is good news for international students looking for employment opportunities. The creation of new jobs in the market is good news for both American nationals and international job seekers. Those who are looking for full time jobs but are stuck in part-time ones will definitely benefit. Having a full-time job is crucial for those staying back in the US on OPT.
Usually, Indians have remained the top recipient of the high skilled H-1B visas and were also the second-largest community of international students staying in the US. Such a big increase in the total number of students accepted at US universities reflects the US government’s policy of taking more skilled workers in the future.
The economy of USA seems to be stable, as long as the job market continues to expand. Looking into the trends in 2019 that seems to be the case. Job availability after graduation shouldn’t be an issue for international students in the near future.