GDP and Jobs
GDP adds up everything a country makes, and the jobs report counts who is working.
The idea
GDP is one giant number that adds up the value of everything a country makes and sells in a year. The jobs report is a regular count of how many people found work or lost it. 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. 📊
Words to know
- GDP
- The total value of everything a country makes and sells in a year.
- Jobs report
- A regular count of how many jobs a country gained or lost.
- Unemployment rate
- The share of people looking for work who cannot find a job.
- Recession
- A stretch of time when the economy shrinks instead of growing.
- Economy
- All the buying, selling and working that happens in a place.
Try it — no account needed
Swipe true or false about the economy's scoreboard.
GDP adds up the value of everything a country makes and sells.
In the full lesson
- 1True or false
- 2Put it in order
- 3Make the call
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