Taggert J. Brooks, PhDAssociate Professor of Economics

University of Wisconsin-La Crosse

-6

-5

-4

-3

-2

-1

0

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19

Postwar Recessions (1946-2008): Cumulative Decline from NBER Peak (pct)

Harshest

2007 Recession

Median

-5

-4

-3

-2

-1

0

1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19

Postwar Recessions (1946-2008): Cumulative Decline from NBER Peak (pct)

1990

2007 Recession

1957

0

100

200

300

400

500

600

700

800

0.00

1.00

2.00

3.00

4.00

5.00

6.00

1990-Jan-06 1994-Jan-06 1998-Jan-06 2002-Jan-06 2006-Jan-06

Th

ou

san

ds

Millio

ns

Continued Claims for Unemployment: SA

Initial Claims for Unemployment: SA

0

20

40

60

80

100

120

140

Jan-90 Jan-92 Jan-94 Jan-96 Jan-98 Jan-00 Jan-02 Jan-04 Jan-06 Jan-08

Thousands

Continued Claims - Minnesota

0

20

40

60

80

100

120

140

160

180

200

Jan-90 Jan-92 Jan-94 Jan-96 Jan-98 Jan-00 Jan-02 Jan-04 Jan-06 Jan-08

Thousands

Continued Claims - Wisconsin

Foreclosures: 7 Rivers Counties

-

100.0

200.0

300.0

400.0

500.0

600.0

700.0

800.0

900.0

1,000.0

1990 1991 1992 1993 1994 1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009*

Total Number of Foreclosures Filed in Jackson, Juneau, La Crosse, Monroe, Trempealeau, Vernon Counties

-

50.0

100.0

150.0

200.0

250.0

1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009*

Foreclosures Filed By County

Juneau

Monroe

Jackson

Vernon

Trempealeau

0.0

10.0

20.0

30.0

40.0

50.0

60.0

70.0

80.0

Jan-99 Jan-01 Jan-03 Jan-05 Jan-07 Jan-09

Number of Building Permits in Metropolitan Statistical Area

Total Permits

Single Unit Permits

40

50

60

70

80

90

100

110

120

130

1997-Jan 1999-Jan 2001-Jan 2003-Jan 2005-Jan 2007-Jan 2009-Jan

Average Number of Days on Market 7 Rivers Region

-6.0

-4.0

-2.0

0.0

2.0

4.0

6.0

8.0

10.0

12.0

1999-Jan 2001-Jan 2003-Jan 2005-Jan 2007-Jan 2009-Jan

7 Rivers Region Percentage Increase in Selling Price for Previous 12 months

$80,000

$90,000

$100,000

$110,000

$120,000

$130,000

$140,000

$150,000

$160,000

$170,000

$180,000

1997-Jan 1999-Jan 2001-Jan 2003-Jan 2005-Jan 2007-Jan 2009-Jan

Average Price of Single Family Homes Sold in 7 Rivers Region

$0.00

$1.00

$2.00

$3.00

$4.00

$5.00

$6.00

$7.00

$8.00

Sep-75 Sep-78 Sep-81 Sep-84 Sep-87 Sep-90 Sep-93 Sep-96 Sep-99 Sep-02 Sep-05 Sep-08

Cash Bid Corn ($/bu)

0.0

1.0

2.0

3.0

4.0

5.0

6.0

7.0

1960 1970 1980 1990 2000 2010

Real Corn Price $/BU CPI 1982-1984=100

0.0

50.0

100.0

150.0

200.0

250.0

300.0

350.0

400.0

450.0

Jan-95 Jan-97 Jan-99 Jan-01 Jan-03 Jan-05 Jan-07 Jan-09

Midwest Regular Reformulated Retail Gasoline Prices (C/gal)

In Recessions

People Substitute – Time for Money

In Recessions

People Get Healthier