a)Citation of the article
TheWall Street Journal (2017, March). Economic forecasting survey.Wsj.com.Retrieved from http://projects.wsj.com/econforecast/#ind=gdpa&r=10
Inthis article, the main emphases were on the gross domestic productgrowth in the US since the year 2010. It is a statistical overview ofthe rate at which the United States Gross domestic product has beendeveloping since the turn of this decade. Although previous articlespoint to either one issue of the GDP most especially the recentlyreleased data of third quarter increase of about 1.4%, the currentone offers some estimates and after that the actual values asattained from the government records. A comparison will be conductedby looking at the statistics of the Organization for EconomicCooperation and Development (OECD) database. A special focus fromthis database will be just in the US alone and not any other OECDcountry.
In2010, the Wall Street Journal Survey points out that, the GDP growthwas at 2.8% percent growth from the 2009 data. According to OECDdatabase, GDP growth was at 2.532%. In 2011, the Wall Street Journalpoints out that GDP was at 2% while the OECD locates that, the GDPwas at 1.677 percent. In 2012, the journal indicated 2.2 percent oGross Domestic Product growth, while the OECD database indicated2.224. In 2013, the journal also had some disparity where GDP was at1.5%, and OECD had 1.67% a difference of about 0.17. 2014 also hadsome disassociation where the Wall Street Journal indicated GDPgrowth was 2.4 while the OECD database showed 2.370 growth rates. In2015, the Wall Street had a lower figure of 2.4 percent growth whilethe OECD database indicated a rate of 2.596, a difference of almost0.2 percent.
D)Reason for No Data Match
Thedisparities in statistics about the GDP of America are mainly as aresult of the methods used in the collecting and calculating thevalues. While some accounting values may point to three decimalvalues, others would wish to base their values to single decimalcalculations for easier arithmetic work. The Wall Street Journal useda single one, while the OECD database went deeper into using threedecimal places. Other than that, the Wall Street Journal’sstatistics was based on data from 60 economists. They were offered asurvey based on what they knew, and this might have been the reasonfor the differences except only for the year 2012 where one can citethe number of decimal places used in the calculations as the reasonfor the negligible disparity.
Patten,E. (2016) Racial, gender wage gaps persist in U.S. despite someprogress. Pewresearch.org.Retrieved fromhttp://www.pewresearch.org/fact- tank/2016/07/01/racial-gender-wage-gaps-persist-in-u-s-despite-some-progress/
b)Data on Salaries
Accordingto the article, women are the most affected US workers regardingsalaries since 1980. For every dollar earned by a white man in the USin 1980, 60 cents were earned by a white woman a black womanreceived 56 cents. The Asian woman started to make a living in 1990where they received 79 cents for every dollar earned by a white man.The Hispanic women were further behind in 1980 where they receivedonly 53 cents for every dollar that a white man went home with, atthe end of the day. In 2015, the gap dropped for some of the womenwhere the Asian woman leads by earning 87 cents for every dollarpocketed by a white man and the white woman made 82 cents. The blackwoman received only 65 cents while the Hispanic lady only got 58cents on every dollar made by a white man.
Formen, in 2015 the Asian one earned the highest at 117% for everydollar a white man received in the US. Statistically, this was anincrease of over 10 percent from 1990 when the Asians entered thelabor force. A black man earned 73 percent for each dollar made by awhite man and for them there was no difference to what they earned in1980. The worst group is the Hispanic men, who earned in 2015, 69% ofevery dollar made by a white man and that was a drop of 2% from whatthey went home with, in 1980.
C)Most Affected Group.
Fromclose examination of the data, it is evident that the most affectedethnic group is the Hispanic. The reason for this is that in bothstatistical measures they are the ones who earned the least regardingthe women and the men although the women made some positives whilethe men lag behind. They earned 71 percent in 1980, but in 2015 theyreceived 69 percent of every dollar got by a white man a differenceof 2%.
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