The Independent Voice of Southern Methodist University Since 1915

The Daily Campus

The Daily Campus

The Independent Voice of Southern Methodist University Since 1915

The Daily Campus

The Independent Voice of Southern Methodist University Since 1915

The Daily Campus

SMU students gather around a bucket of markers to write an encouraging note to put in “Welcome to the Shelter” kits at event in mid-April on SMU’s campus.
Dallas homeless recovery center, The Bridge, is a home
Morgan Shiver, Contributor • June 20, 2024
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Back from the Brink

Last spring represented the peak of panic, gloom and doom for the economy. Some analysts were predicting nothing short of an economic apocalypse. The stock market was in free fall and it seemed like the job losses would never end. That was the spring. Since then a much rosier picture has emerged since the end of classes in the spring and it seems like the economy, once teetering on the brink, is now clawing its way back. Here’s a look at how things have improved.

OilThe price of oil is a key measure for the most part of demand for oil. With the economy tanking and fear setting in, the price of oil dropped from an all-time high in June 2008 of $149, to $35 in march. The demand for oil can be used as a key measure of the strength of an economy. A booming economy requires more energy. Currently the price of oil is hovering around $70.

Stock MarketThe stock market usually prices in how good or how bad things are with the economy. The market usually begins rebounding half way though the recession. The market bottomed on March 12 at 666 on the S&P 500. This was down from a high of around 1500 in 2007. Currently the S&P 500 is hovering over 1000.

Economic DataKey economic indicators, employment and GDP also showed significant improvement over the summer months. GDP is the total output of an economy and it eased its annualized loss from 6.7 percent to 1 percent in the spring quarter. Employment also showed signs of improving as jobless claims began to decrease and the unemployment rate unexpectedly halted its upward march at 9.4 percent.

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