Economic
There were many great things that happened to the U.S. economy in the 1990’s. For example, the economy of the U.S. rose rapidly due to higher tax rates. There was also much faster income and wage growth. Many people also agree that the U.S. economy expanded significantly in the 1990’s. However, productivity had slumped since the 1970’s, despite the diffusion of personal computers. But, this all changed in a dramatic fashion. Multi-factor productivity rose at an annual clip of 1.3% in 1995 while labor productivity increased as well.
Unemployment remained above 7% until July 1993, and above 6% until September 1994. This was because in the 1990’s, roughly 23,672,000 jobs were formed in this era and many companies as well. Due to this, there were many jobs people had access to that got them above the poverty line. One very popular company in the 90's was AOL. This company was very popular due to it being one of the first instant messaging sites ever made, however due to many other companies forming, this company isn't as successful as it was back then (as goes for MySpace as well). Also, hourly wages increased by a strong 10.1% since 1996. However in the late 1990’s, growth faltered, job creation slowed, and the stock markets plunged, leaving the early 2000’s a big mess.