Resilience of the United States Economy to External Shocks

Abstract

A multidimensional analysis of one of main macroeconomic indicators, specifically, unemployment, in the United States was conducted and presented in the article. The research covered several groups of dependent variables, such as: the number of unemployed people in total in the United States monthly, along with unemployment rates, CPI indices, and unemployment in respective US states. The evaluation of the conducted research is that from January 2020 to October 2023 there had been a visible decrease in unemployment rates, and their level is similar to the values recorded from January 2018 to January 2020, which clearly proves that the crisis caused by the COVID-19 pandemic has been averted. The analysis method was used in the study, i.e. distribution of variables into prime factors and comparison dynamically in order to detect the regularities occurring in them.