Graduation Year
2017
Date of Submission
12-2016
Document Type
Open Access Senior Thesis
Degree Name
Bachelor of Arts
Department
Economics
Reader 1
Manfred Keil
Terms of Use & License Information
Rights Information
© 2016 Maxwell J Urman
Abstract
Using data from government sources (FRED, BEA, BLS), the thesis explores the underlying reasons for declining U.S. economic growth. A long standing trend of annual 3% growth no longer seems to hold true for the economy. The paper summarizes current theory as to why the growth has slowed and finds new explanations by analyzing the various major industries which make up GDP. The results show that sectoral shifts in employment from high paying industries to low paying industries help to explain a significant portion of the decline in national growth rates. The decline in growth is primarily driven by about ten poor performing states.
Recommended Citation
Urman, Maxwell J., "The End of the Three Percent Rule: How Structural Changes in the U.S. Economy have Impacted Economic Growth" (2017). CMC Senior Theses. 1508.
https://scholarship.claremont.edu/cmc_theses/1508
