AP US History in 1 Minute Daily: 21st Century Economic Changes (Day 303/309)

Hey APUSHers, let’s chat about 21st Century Economic Changes as part of my series- APUSH in 1 Minute Daily!

Distribution of GDP by Economic Sector, Our World in Data

In the late 1990s and early 2000s, the United States experienced profound economic changes driven by globalization, technological advancements, and policy shifts. 

The Information Age, Wikimedia Commons

Rapid technological advancements, particularly in information technology, fueled economic growth and productivity gains, leading to the emergence of new industries and the digital revolution. 

“NAFTA,” Etta Hulme

Globalization led to increased international trade but also raised concerns about job displacement through outsourcing fueling changes in the labor market including a decline in manufacturing jobs and the rise of the service sector. 

Income Inequality, Pew Research

Income inequality widened significantly during this period, with the wealthiest individuals and corporations seeing substantial gains while middle and low-income households faced slower income growth. 

The Great Recession in Numbers

The housing market experienced a boom in the early 2000s followed by a bust, resulting in the Great Recession and widespread economic hardship. 

Driven by rapid technological advancements, globalization, and policy shifts, the U.S. economy has faced both growth and challenges in the various sectors of the economy. 

Join me tomorrow as I explain Migration & Demographic Shifts in the next APUSH in 1 Minute Daily!