the perfect economic storm. figure i average weekly earnings growth by occupation, 1970-2007
TRANSCRIPT
The Perfect Economic Storm
The Perfect Economic Storm
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
Figure I
AVERAGE WEEKLY EARNINGS GROWTHBY OCCUPATION, 1970-2007
0.14%0.27%
-0.42%
-1.62%-1.48%
-0.11%
0.49%
-0.25%
0.39%
-0.18%
-2.00%
-1.50%
-1.00%
-0.50%
0.00%
0.50%
1.00%
FIGURE II
AVERAGE WEEKLY EARNINGS “REAL”GROWTHBY OCCUPATION, 1970-2007
FIGURE III
OVERALL AVERAGE WEEKLY EARNINGS GROWTH
DOLLAR VS. “REAL”, 1970-2007
-0.34%
4.26%
-1.00%
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
REAL GROWTH, 1.03%
DOLLAR GROWTH, 7.08%
0.00%
1.00%
2.00%
3.00%
4.00%
5.00%
6.00%
7.00%
8.00%
INCO
ME
GRO
WTH
AVERAGE ANNUAL HOUSEHOLD INCOME GROWTH: 1970-2006
FIGURE IV
FIGURE V
54
56
58
60
62
64
66
68
1965 1968 1971 1974 1977 1980 1983 1986 1989 1992 1995 1998 2001 2004
LFPR
Women’s Labor Force Participation Rate
FIGURE VI
Men’s Labor Force Participation Rate, 1965-
2007
72
73
74
75
76
77
78
79
80
81
82Pe
cent
age
1965 1969 1973 1977 1981 1985 1989 1993 1997 2001 2005
Year
FIGURE VII
AVERAGE WEEKLY HOURS WORKED, U.S.A.
FIGURE VIII
U.S. AVERAGE HOUSE PRICES, 1975-2008
$50
$100
$150
$200
$250
$300
$350
$400
$450
1975
1977
1979
1981
1983
1985
1987
1989
1991
1993
1995
1997
1999
2001
2003
2005
2007
Thousands of Dollars
FIGURE IX
LONG-TERM MORTGAGE RATES
FIGURE XGROWTH IN HOME PRICES
DROPS INTO NEGATIVE RANGE
FIGURE XI
REAL ESTATE EXCEEDS STOCK’S SHARE OF PERSONAL
WEALTH
FIGURE XIISAVING RATE AS PERCENT OF
DISPOSABLE PERSONAL INCOME
-2.0
0.0
2.0
4.0
6.0
8.0
10.0
12.0
YEAR
PERC
ENTA
GE
Figure XIIIHOUSEHOLD DEBT AS A
PERCENTAGE OF DISPOSABLE INCOME, 1980-2007
9
10
11
12
13
14
15
PER
CEN
TAG
E
1981 1983 1985 1987 1989 1991 1993 1995 1997 1999 2001 2003 2005 2007
YEAR
DEBT SERVICE / INCOME RATIO
FIGURE XIVTHE EXPLOSION IN THE
ALTERNATIVE MINIMUM TAX
FIGURE XV
ENTITLEMENT COMMITMENTS OF
PROJECTED TOTAL FEDERAL REVENUES
FIGURE XVIFALLING TRANSPORTATION COSTS IN INTERNATIONAL
TRADE
FIGURE XVIITHE FALLING COST OF
INTERNATIONAL COMMUNICATIONS
FIGURE XVIIITHE GROWTH IN EMAIL
Financial Intermediaries