Dagwood Doesn't Work Here Anymore?: The Denominator, Unemployment, And War‪.‬

ABSTRACT In the years leading up to 2001, the United States economy saw an unprecedented level of growth. From all accounts, economists and the general public alike agreed that we had never been here before. During this period, the Dow Jones Industrial Average reached 11,000 and unemployment was at an all time low of 4.0%. So where are we today? In the last year, the DOW reached 10,000 before dropping again, and America's unemployment rate ended the year of 2003 at 5.9%. The United States economy is in its third year of recession. With employment at an unsettling level, could it be worse if it were not for the effects of war? Everyone, including our President, wants to be able to say that we have hit the bottom and that we have begun recovery. Has the time come that we can begin to relax and ride the American dream?