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The minimum wage rose from $3.35 to $3.80. This is important because it causes businesses to pay more to their workers. Also this could encourage unemployed workers to go out and get a job because of the increased wages.
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The United States government launched the Hubble Telescope costing them a total of $1.5 billion. This is important because this cost is an expensive investment for the government. So to get the money back they have to raise taxes and that affects everyone.
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The United States military was fighting Iraq. The government had to put out large sums of money to carry out missions, provide food and gear, and for weapon development.
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General Motors or GM announced that they are going to cut 74,000 jobs. This affects anyone working in that company because you don't know whether or not you'll have a job. Also now all these people have to find new jobs so they can provide for their family. The unemployment will go up and new jobs will have to open
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GM shuts down a plant costing 2,600 employees their jobs. This isn't even counting the 74,000 they already cut out. But again new jobs have to open up and people have to try and find new jobs.
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NAFTA is a three way trade that passed between the United States, Canada, and Mexico. This allows our government to get more inputs and outputs between the countries.
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The Rwandan Genocide happen in East Africa that killed 800,000 people. This event had a huge impact all around the world. Hoping things would get better for the people affected by this massacure.
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The world trade organization is established increasing the trade between the major countries. It also increases the money flow between them all. Our economy greatly benefits from this.
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This is economically important because 40,000 people lost their job. So this means that the unemployment rate went up. Less people are able to support their family with the money they need to survive.
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This is economically important because people lost everything so they have to start over. They can't just go home to all of their belongings that they have kept over the years
