Ireland at first in the 1900’s had a difficult time with their economy. Their emigration (people leaving their country) rate was high.
Then when the early 2000’s came about Ireland had begun to turn themselves around. They begun to see rapid growth, openness to global markets and lower tax rates which in turn gave more profit to the people. Irelands tax rate was 12.5% which compared to the US’s at 35% was really good. Ireland made sure college was affordable so everyone could have the chance to go.
Then everything changed… When this Irish Boom happened people started to go crazy buying land, building and taking out massive bank loans that would take years to pay off. During the Celtic Tiger people wanted the most expensive food they could find. Gas prices rose 270%, property values plummeted and banks began to fail because no one could pay them back. The government then began to go bankrupt. Kids were being ripped off of education, by only going to school 1 and 1/2 days. 14.6% of the population was laid off or out of work.
During the 1950s in the U.S., we were starting to allow imported cars from Japan and other countries would soon follow. The Bank of America offered the very first credit card and Bell Labs scientists invented the first laser. Record companies started recording and selling records such as Motown Records. Fast food chains like McDonald’s starting being seen throughout the U.S. In the 60s, the first Wal-Mart store opened in Arkansas and the first K-Mart in Detroit, Michigan. Blue Ribbon Sports (later becomes NIKE) sells a shoe that takes the nation by storm! Gap stores were being seen and the first Sesame Street is broadcast in the 60s as well. In the 70x FEDEX starts to service over 25 of our states and continues to eventually service the world! Also in the 70s, Bill Gates and Paul Allen form Microsoft and the world of personal computers would forever be changed. In the late 70s, Steve Jobs and Steve Wozniak form Apple Computer Company and sell their first personal computers. We all know they went on to thrive in this area. Toys R Us revives the employee stock option as an employee benefit. Home Depot was also born near the end of the 70s. Ted Turner starts CNN, a first 24 hour cable news station. In the 80s, IBM sells the first personal computer using the Microsoft Disk Operating System (MS-DOS).
Apple introduces the Macintosh computer, which includes such features as a mouse and graphical user interface. AT&T is divided up into seven regional phone companies. AOL is born!
In the 90s, Jeffrey Katzenberg, Steven Spielberg, and David Geffen join forces to form a new entertainment company, DreamWorks SKG. General Electric launches
www.ge.com , becoming the first Fortune 500 company to go online. Jeff Bezos opens Amazon.com on the Internet, offering one million titles. AT&T splits again into three companies and Lucent Technologies is born. Time Warner buys Turner Broadcasting System. Microsoft and General Electric (owner of NBC) launch computer/television network MSNBC. The Boeing Company merges with McDonnell Douglas.
2000 though 2007: Reflecting the growth of its discount stores, Dayton Hudson changes its name to Target Corporation. Children's Television Workshop changes its name to Sesame Workshop. Amazon.com posts its first profit, $5.1 million in the fourth quarter. America Online purchases Time Warner, forming AOL Time Warner. Kmart Corporation files for Chapter 11 bankruptcy protection. January 20, the inauguration of Barack Obama as the 44th President of the United States took place. Unemployment was at an all time high and troops were still in Iraq and Iran. President Obama just recently made the declaration that the U.S. will be withdrawing from there by the end of the year. Businesses continue to struggle and unemployment still stands at an all time high. New college graduates are finding it more difficult than ever to find a job. The economy looks and feels depressed.
Income
Rural *
Urban *
Total
Per-capita income (2010 dollars)
2009 31,221 41,127 39,483
2010 31,798 41,546 39,937
Percent change 1.8 1.0 1.1
Earnings per job (2010 dollars)
2009 36,872 53,335 50,917
2010 37,752 54,117 51,714
Percent change 2.4 1.5 1.6
Poverty rate (percent)
1979 15.9 11.6 12.4
1989 17.3 12.2 13.1
1999 14.8 11.9 12.4
2010 (latest model-based estimates) 17.8 14.8 15.3
More information on United States poverty rates
• County-level Poverty Data
• Rural Income, Poverty, and Welfare Briefing Room
Employment
Rural *
Urban *
Total
Total number of jobs
2009 25,585,991 148,622,809 174,208,800
2010 25,512,180 148,255,220 173,767,400
Percent employment change
2008-2009 -3.6 -3.7 -3.6
2009-2010 -0.1 -0.2 -0.1
2010-2011 0.6 0.9 0.9
Unemployment rate (percent)
2010 9.2 9.7 9.6
2011 8.4 9.0 8.9
More information on United States unemployment rates
• County-level Unemployment and Median Household Income Data
• Rural Labor and Education Briefing Room
More information on United States unemployment rates
• County-level Unemployment and Median Household Income Data
• Rural Labor and Education Briefing Room
In contrast to the U.S., Ireland in the 50s, 60s and 70s, offered Agriculture as the most important sector, but is now dwarfed by industry and services. Industry accounts for 46% of GDP, about 80% of exports, and 29% of the labor force. Although exports remain the primary engine for Ireland's growth today, the economy has also benefited from a rise in consumer spending, construction, and business investment. Per capita GDP is 40% above that of the four big European economies and the second highest in the EU behind Luxembourg. Over the past decade, the Irish Government has implemented a series of national economic programs designed to curb price and wage inflation, reduce government spending, increase labor force skills, and promote foreign investment. Ireland joined in circulating the euro on 1 January 2002 along with 11 other EU nations. According to various World Fact online sources, the main industries in Ireland, in order of importance, currently are: steel, lead, zinc, silver, aluminum, barite, and gypsum mining processing; food products, brewing, textiles, clothing; chemicals, pharmaceuticals; machinery, rail transportation equipment, passenger and commercial vehicles, ship construction and refurbishment; glass and crystal; software, tourism, there were also football,baseballs,and basketballs.