Economic Overview of the United States and What it Means for International Students
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According to the US Bureau of Economic Analysis, the US economy has come back sharply from COVID effects and the real GDP has grown at a rate of 2.6% in the fourth quarter of 2022. This reflects the continued economic recovery and reopening of economic activities. As per BEA (Bureau of Economic Affairs), the US economy grew at 2.1% in 2022. The real GDP decreased by 3.6% since 2021 in contrast to a 3.5% contraction in 2020. In 2022, the US economy has fallen by 3.6% according to the data provided by the Congressional Budget Office (CBO).
The total non-farm payroll employment increased by 428,000 in April 2022, while the unemployment rate stood at 3.6%. However, no-farm employment is 0.8% lesser as compared to the pre-pandemic level in February 2020.
Economic Overview of the USA 2022-23
The following is a graphical representation of the sector-wise GDP in the USA for the year 2022-23:
The largest job gains were seen in Professional, scientific, and technical services along with leisure and hospitality, manufacturing, transportation and warehousing. Employment in professional and business services shows an upward trend and since February 2022, employment in professional and business services has increased by 41,000. In the same period, employment in the industry has increased by an absolute 738,000.
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This is the first time that the unemployment rate has dipped below 5% in eight years. In the financial report, one good development was wage growth. Wages and salaries grew by 5% in the private sector, in the first quarter of 2022 (concerning the first quarter of 2021).
What does this mean for international students?
The addition of jobs along with a low unemployment rate is good news for international students, particularly for those who are looking for full-time opportunities. As the economy and economic systems reopen after the COVID-induced restrictions, businesses will be looking to expand again and this will signal the creation of new jobs. The data provided by the U.S. Bureau of Labor Statistics also signals the same. The creation of new jobs in the market is good news for both American nationals and international job-seekers. Those looking for full-time jobs but are stuck in part-time ones will benefit. Having a full-time job is crucial for those staying back in the US on OPT.
As per the Open Doors Report 2022, 1,99,812 Indian students were studying in the US during the academic year 2022-23. A slight decrease in the number of students going to the US is more of a “COVID blip” and the overall trend has been generally positive. Usually, Indians have remained the top beneficiaries of the high-skilled H-1B visas and comprise the second-largest community of international students staying in the US. Such a large number of students accepted at US universities reflects the US Government’s policy of inviting more skilled workers in the future. If you consider the fact that approx. 80% of all Indian students in the US have chosen courses in the fields of engineering, math, and computer science, it makes all the more sense for the government to create more job opportunities. As these courses fall under the category of STEM, the stay on OPT is longer for these courses.
The bottom line is that the American economy seems to be stable, as long as the job market continues to expand. Looking at the trends in 2022 that seems to be the case. Job availability after graduation should not be an issue for international students in the near future.
Q: What GPA is required for the University of South Dakota?
Q: What GPA is needed to go to Ohio State?
There is no minimum GPA score for UG admission at Ohio State. However, International students must have a cumulative GPA of at least 3.0 (on a 4.0 scale or equivalent) for graduate admission. Applicants may submit a standardized test score (GRE or GMAT) if their cumulative GPA is below 3.0 for the last degree.
Q: Is it hard to get into the UTSA in San Antonio Texas?
According to various sources, University of Texas San Antonio has an overall acceptance rate of around 87% which makes it somewhat selective for international student admissions. Some of the general requirements to be considered for admission are given as follows:
- SAT/ACT scores
- Overall Student's GPA
- Letters of Recommendation
- High School Class Rank
- Additional Academic Records
Q: Is University of North Dakota good for Indian students?
The University of North Dakota is one of the top choices for international students to pursue their higher education. The UND warmly welcomes its international students as they have contributed a lot to the success of the university. Moreover, the university offers a top-notch environment, the best academic opportunities, technical & career training, etc. The university boasts over 1000 international students who represent more than 95 countries. Additionally, international students highly enjoy the facilities provided by the University of North Dakota. The UND is one of the largest research universities in the United States for international students.
Q: How much is the application fee for Alabama University?
The Alabama University application fee for International students vary by application type. Mentioned below are the application fee for UG and PG applications at Alabama:
- UG: USD 40 or INR 3,342.14
- MBA: USD 80 or INR 6,684.28
Q: Can I get into Oregon State with a 3.5 GPA?
International students must have at least a GPA between 2.5 and 3.0 on a scale of 4.0 for UG and PG admission at Oregon State. Therefore, candidates are eligible to get admission to the university with a 3.5 GPA in their academics. Oregon State University GPA requirements are different for undergraduate and graduate admission. Mentioned below is the range of GPA required for Oregon State University admissions:
| Program | Minimum GPA Required (on a scale of 4.0) |
|---|---|
| Undergraduate | 2.5 - 3.0 |
| Graduate | 2.5 - 3.0 |
Read about the Grading System in the USA
Q: What is Northwest Missouri acceptance rate?
The Northwest Missouri acceptance rate for international students is around 80%. This shows that the university follows a moderate selection criteria when it comes to admission. However, the moderate selection criteria does not imply that the university accepts every application. International students must showcase their excellent academic performance, score high GPA, submit standardized test scores and English language proficiency test scores. In addition, if a student has a history of participation in relevant extracurricular or experience, their selection probability increases by 50%.
Q: What GPA do I need to get into Northwest Missouri state?
Northwest Missouri State University expects a cumulative GPA of 2 for UG programs and 3 for PG programs on a scale of 4. GPA is one of the top factors when considering students for university admissions. Along with GPA, the university expects a student to provide high school transcripts from previously attended university or school, standardized test scores, English language proficiency test scores, and more. In addition, students with relevant experience in the chosen field are preferred over the studious students.
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The University of South Dakota expects a GPA score of 2.5 from undergraduates and 3 from postgraduates on the 4-pointer scale. Along with the GPA scores, undergraduates must meet the basic eligibility and submit an ACT score of 21 or higher and an SAT score of 1070 or higher. In addition, they must submit the required documents, such as academic history, transcripts, letters of recommendation, English language scores, and more.