The American Unemployment rates peaked at 30% during the Great Depression in the 1930s. Full employment during the World War 2. Dropped down to around 5% towards the 1960s. Oil crisis during the late 1970s- unemployment drifted upwards. Since 1980 the government records have been fudged. Unemployment and inflation have been made to look as favourable as possible for the government and its power brokers.
The economic boom in the last decade was primarily due to rising house markets and excessive consumption of imported consumer goods. The US economy has been in a recession since the onset of 9/11/01, but the house market and share market covered things up. Huge government debts and deficits every year. Fiat capital system and 100% finance loans(sub prime loans) played a huge role in the credit crunch.
The following decade will be of slow growth as the economy recovers in the US. 2 to 3% economic growth every year. The worst of the recession is over and a double dip recession has been avoided in the US.
Taxes will need to be decreased and government spending will need to be reduced. Immigration will need to be decreased. Decreasing taxes would increase employment and boost business investment. Wages will need to be lowered and the unemployment rates will fall.
