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Mind and markets

Lesson 99 · Written for kid, teen, and little

GDP and Jobs

GDP adds up everything a country makes, and the jobs report counts who is working.

The idea

GDP adds up the value of final goods and services produced inside a country during a period, such as a year, without counting the same production twice. The jobs report describes changes in employment. When GDP is growing and jobs are being added, the economy is usually busy; when both shrink for a while, economists often call that a recession. Investors watch these numbers closely, but no single number can tell anyone what happens next. 📊

A

Words to know

5

GDP

The value of final goods and services produced within a country during a period, without counting intermediate products again.

Jobs report

A regular count of how many jobs a country gained or lost. In the US it comes out on the first Friday of most months.

Unemployment rate

The percentage of the labor force that is unemployed. The labor force includes people with jobs and unemployed people. If 95 people are employed and 5 are unemployed, the unemployment rate is 5%.

Recession

A stretch of time when the economy shrinks instead of growing. Fewer jobs, less spending, and usually falling stock prices.

Economy

All the buying, selling and working that happens in a place. Your town's shops, jobs and wages are part of it.

Try it — no accountTrue or false

Swipe true or false about the economy's scoreboard.

Card 1 of 4

GDP adds up the value of everything a country makes and sells.

Swipe the card — or tap.

In the full lesson

  1. 1True or false
  2. 2Put it in order
  3. 3Make the call

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