Economic Indicators
Compiled by theProgressive Review

OTHER STATS

2014

 GETTING WORSE

Children

Number of US children living with parent who's been out of work for at least 6 months has tripled since 2007.

Elites

Labor

Median hourly wages are $1.50 lower than they were in 1972,

2013

GETTING BETTER

Housing

New home sales highest since 2008

Housing starts largest since 2006

Homelssness down from 2007

Mortgage delinquencies decline

Home prices posted a 12.2% annual increase in May, the biggest gain for any 12-month period in more than seven years, a report from S&P/Case-Shiller says.

Homes with indoor plumbing up from 55% in 1940s to 99% now

 GETTING WORSE

Economy

@SenSanders - The US has seen the loss of more than 5 million manufacturing jobs and the closure of more than 60,000 factories since 2000.

Where the economy really is

From the Economic Collapse Blog

According to the U.S. Census Bureau, approximately one out of every six Americans is now living in poverty. The number of Americans living in poverty is now at a level not seen since the 1960s.

Today, approximately 20 percent of all children in the United States are living in poverty. Incredibly, a higher percentage of children is living in poverty in America today than was the case back in 1975.

Approximately 57 percent of all children in the United States are currently living in homes that are either considered to be either "low income" or impoverished.

29 percent of all African-American households with children are dealing with food insecurity.

The number of children living on $2.00 a day or less in the United States has grown to 2.8 million. That number has increased by 130 percent since 1996.

Families that have a head of household under the age of 30 have a poverty rate of 37 percent.

There are approximately 20.2 million Americans that spend more than half of their incomes on housing. That represents a 46 percent increase from 2001.

About 40 percent of all unemployed workers in America have been out of work for at least half a year.

One out of every four American workers has a job that pays $10 an hour or less.

Right now, more than 100 million Americans are enrolled in at least one welfare program run by the federal government. And that does not even include Social Security or Medicare.

An all-time record 48 million Americans are now on food stamps. Back when Barack Obama first took office, that number was only sitting at about 32 million.

According to one calculation, the number of Americans on food stamps now exceeds the combined populations of "Alaska, Arkansas, Connecticut, Delaware, District of Columbia, Hawaii, Idaho, Iowa, Kansas, Maine, Mississippi, Montana, Nebraska, Nevada, New Hampshire, New Mexico, North Dakota, Oklahoma, Oregon, Rhode Island, South Dakota, Utah, Vermont, West Virginia, and Wyoming."

21 - Back in the 1970s, about one out of every 50 Americans was on food stamps. Today, close to one out of every six Americans is on food stamps. More than one out of every four children in the United States is enrolled in the food stamp program.

Elites

In 1965, the average CEO made 20 times the average worker. Now the ratio is 273 to 1, meaning the average CEO makes in a day what their workers make in a year.

Employment

Michael Snyder, Activist Post

- The percentage of working age Americans with a job fell to 58.3 percent in October. The lowest that number has been at any point since the year 2000 is 58.2 percent. In other words, there has been absolutely no "jobs recovery".

- The U.S. economy lost 623,000 full-time jobs last month. But we are being told to believe that the economy is actually getting "better".

- The number of American women with a job fell by 357,000 during the month of October.

- The average duration of unemployment in October 2013 was nearly three times as long as it was in October 2000.

- The number of Americans "not in the labor force" increased by an astounding 932,000 during October. In other words, the Obama administration would have us believe that nearly a million people "disappeared" from the U.S. labor force in a single month.

- The number of Americans "not in the labor force" has grown by more than 11 million since Barack Obama first entered the White House.

- In January 2000, there were 75 million working age Americans that did not have a job. Today, there are 102 million working age Americans that do not have a job.

Activist Post -The U.S. labor force participation rate is at a 35-year low.

Percentage of Americans who are participating in the labor force is the lowest that it has been in 35 years.

Longest unemployment 7.5% or higher since 1948

Health

Back in 1999, 64.1 percent of all Americans were covered by employment-based health insurance. Today, only 54.9 percent of all Americans are covered by employment-based health insurance.

Housing

Nearly half of all home purchases are all-cash deals.

The homeownership rate in the United States is now at the lowest level it has been in nearly 18 years.

There are approximately 20.2 million Americans that spend more than half of their incomes on housing. That represents a 46 percent increase from 2001.

The gap between the top 5% and bottom 20% of American households is the largest it has been since 1967

More than three times as many new homes were sold in the United States in 2005 as were sold in 2012.

Home ownership lowest since 1995

Housing foreclosures hit a record in 2010

Corrected for inflation, housing prices in 2012 were at 1986 levels

For the first time ever, more than a million public school students in the United States are homeless. That number has risen by 57 percent since the 2006-2007 school year. 2012

Income

Median income

Half of the workers in the United States made less than $27,519 last year. That median wage is the lowest it's been since 1998.

@SenSanders - 95% of the new income generated in this country from 2009-2012 went to the top 1%.

Activist Post - According to the U.S. Census Bureau, median household income in the United States has fallen for five years in a row.

Right now the middle class is taking home a smaller share of the overall income pie than has ever been recorded before.

After accounting for inflation, right now 40 percent of all U.S. workers are making less than what a full-time minimum wage worker made back in 1968.

@theprospect - Median household income is 11.6% lower than it was in 2000.

In 1989, the median American household made $51,681 in current dollars (the 2012 number, again, was $51,017). That means that 24 years ago, a middle class American family was making more than the a middle class family was making one year ago.

Median family income down 8% since 1970, net worth down 39%

The gap between the top 5% and bottom 20% of American households is the largest it has been since 1967

Labor


OFF THE CHARTS


OFF THE CHARTS

 

Bottom 90% earning only $59 more than in 1966

Hourly wages have record drop

4.2 million Americans—37 percent of the unemployed—have been jobless for longer than six months, the highest rate in the last sixty years

Middle class has declined with fall of union membership


Wall Street Journal/Think Progress

Since 2000, U.S. multinationals have cut 2.9 million jobs here while increasing employment overseas by 2.4 million. This is likely just the tip of the iceberg as multinational corporations account for only about 20% of the labor force

40% of US workers paid less than a full time minimum wage employee in 1968

Back in 1950, more than 80 percent of all men in the United States had jobs. Today, less than 65 percent of all men in the United States have jobs.


Wages & salaries as a percent of GDP

Bottom 90% earning only $59 more than in 1966

Wages have fallen to a record low as a share of America’s gross domestic product. Until 1975, wages nearly always accounted for more than 50 percent of the nation’s G.D.P., but last year wages fell to a record low of 43.5 percent

The hourly minimum wage reached its peak value in 1968, when it was worth $10.57 in real terms, the Congressional Research Service calculated in a new report.

Self employment at all time low

Union membership at lowest since the 1930s

There are less Americans working in manufacturing today than there was in 1950 even though the population of the country has more than doubled since then.

The labor force participation rate in June 2013 remained near the lowest level it has been at any time since 1978.

@RBReich - US has 2.4 million fewer jobs than when recession began, real median wage 5 percent lower, and 58% think we're in recession.

Longest unemployment 7.5% or higher since 1948

Poverty

U.S. families that have a head of household that is under the age of 30 have a poverty rate of 37 percent.

The number of Americans on food stamps has grown from 17 million in the year 2000 to more than 47 million today.

A higher percentage of children is living in poverty in America today than was the case back in 1975.

The number of children living on $2.00 a day or less in the United States has grown to 2.8 million. That number has increased by 130 percent since 1996.

in 1965, only one out of every 50 Americans was on Medicaid. Today, one out of every 6 Americans is on Medicaid,

A weak social welfare policy has contributed to a rise in deep poverty: the number of people living in deep poverty has risen from 12.6 million in 2000, to 20.4 million people today. This includes over 15 million women and

A new report released by the National Center on Education Statistics reveals that nearly one in five public schools was considered high-poverty in 2011, a 60 percent increase since 2000.

In 2012 Food stamp use hit record level. .... The number of Americans on food stamps now exceeds the combined populations of Alaska, Arkansas, Connecticut, Delaware, District of Columbia, Hawaii, Idaho, Iowa, Kansas, Maine, Mississippi, Montana, Nebraska, Nevada, New Hampshire, New Mexico, North Dakota, Oklahoma, Oregon, Rhode Island, South Dakota, Utah, Vermont, West Virginia, and Wyoming.

Prices

Gallon of gas: 1/20/09 -- $1.84; 1/21/13 -- $3.26

Retirement

Growing number of Americans feel they'll have to work until they're in the 80s . . .or until they die

 

 

 

 

CORPORADOS

Every year corporations and the wealthy are avoiding more than $100 billion in U.S. taxes by sheltering their income offshore.

EMPLOYMENT

@SenSanders - About 75% of the jobs created so far this year are part-time jobs with little or no benefits.

Almost 15% of the young are unemployed

Number of unemployed this summer: 11.5 million. Number unemployed during Great Depression: 13-18 million

Middle class jobs down 7% a year


The collapse of America (in two charts)

In August the labor market participation rate was down to its lowest level for 31 years The 70 per cent labor force participation rate for men was at lowest level recorded since the government began tracking it in 1948.

The number of jobs at new small businesses continues to decline. According to economist Tim Kane, the following is how the decline in the number of startup jobs per 1000 Americans breaks down by presidential administration...

  • Bush Sr.: 11.3
  • Clinton: 11.2
  • Bush Jr.: 10.8
  • Obama: 7.8

According a study by the British Guardian, the 1.4% increase in unemployment during the Obama administration has been concentrated in about half the states (the darker ones above). You can get details on your state by going here

FOOD STAMPS

Huffington Post - SNAP (the Supplemental Nutrition Assistance Program, formerly known as food stamps) lifted 4 million people above the official poverty line in 2012, according to new data that the Census Bureau. That's the highest level on record. (Census doesn't adjust its data for population growth, but we did and confirmed that the share of the population that SNAP lifted out of poverty also stood at a record high.) - 2013

@amprog - In 2011, SNAP generated $9 in economic activity for every $5 in spending

HISTORICAL

DEPRESSION STATS

As Frederick Thayer of George Washington University has pointed out, there have been six periods in American history of substantial debt reduction, in each case followed by a depression:

"From 1817 to 1821, the national debt was reduced by 29 percent to $90 million, and our first major depression began in 1819;

"From 1823 to 1836, the national debt was reduced by 99.7 percent to $38,000, and a major depression began in 1837;

"From 1852 to 1857, the national debt was reduced by 59 percent to $28.7 million and was followed by a major depression in 1857;

"From 1867 to 1873, the national debt was lowered by 27 percent to $2.2 billion, and a major depression began in 1873;

"From 1880 to 1893, the national debt was reduced by 57 percent to $I billion and was followed by a major depression in 1893;

"From 1920 to 1930, the national debt was reduced by 36 percent to $16.2 billion; our sixth major crisis - the Great Depression - began in 1929."

HOUSING

Half of renters pay 30% of income on rent

INCOME

From 2009 to 2011, the top 7% gained a whopping $5.6 trillion in net worthies) while the rest of lost $669 billion. Their wealth went up by 28% while rest went down by 4 percent.

INFLATION

Electricity bills in the United States have risen faster than the overall rate of inflation for five years in a row.

According to USA Today, many Americans have actually seen their water bills triple over the past 12 years.

LABOR

In 2000, there were more than 17 million Americans working in manufacturing, but now there are less than 12 million. -2012

What if the minimum wage had grown as the same rate as the top 1% income?

Survey: 84% of NYC fast food workers report wage theft

Nearly four in ten private-sector workers—and 81% of low-wage workers —don’t have a single paid sick day to recover from common, short-term illnesses.

A third of job creation is below poverty level in pay

Costco has higher profits, pays workers better than other giant retailers

Americans 270 times more likely to die in a workplace than from a terrorist attack

Nearly half of minimum wage workers are adult women

One of every six American children has a parent that is either unemployed or underemployed, according to a new study from First Focus and the Urban Institute. Overall, 6.2 million children live in homes where at least one parent is unemployed; the total rises to 12.1 million when underemployment is included too.

POVERTY

@amprog - In 2011, SNAP generated $9 in economic activity for every $5 in spending:


CENSUS

76% of Americans living paycheck to paycheck


CENSUS

2012

 

TAXES

Facts about the corporate tax rate

ooo

TRADE

When NAFTA was pushed through Congress in 1993, the United States had a trade surplus with Mexico of 1.6 billion dollars. By 2010, we had a trade deficit with Mexico of 61.6 billion dollars.

WEALTH

2013

Wealth more concentrated at top than at any time since 1916

Harpers - Number of the 400 wealthiest Americans who count as small-business owners under House Republicans’ definition : 237

Median wealth of families in 2012 worse since 1969

The United States has the most unequal distribution of wealth and income of any major country and that inequality is worse today than at any time since the late 1920s.

YOUNG

2013

Homeless young increasing

Percentage change in the past twenty-five years in the net worth of Americans thirty-five and younger: - 68 - Harpers

High school student employment down 50% since 1990

Children in poverty: Up 18% since 2006

The number of Americans in the 25 to 34 age group that live with their parents has grown by 25 percent since 2007.

Since the year 2000, incomes for U.S. households led by someone between the ages of 25 and 34 have fallen by about 12 percent after you account for inflation.

Earlier

Late credit card payments at 11 year low

In 2011, America’s sale of goods and services to the rest of the world grew by 14.5 percent, setting a record of $2.1 trillion. Exports accounted for 13.8 percent of the US economy — higher than any year since an anomalous boom during World War I.

Percentage change in the past twenty-five years in the net worth of Americans sixty-five and older: +42 - Harpers

In 2007, the unemployment rate for the 20 to 29 age bracket was about 6.5 percent. Today, the unemployment rate for that same age group is about 13 percent.

America's disappearing workforce

Nearly four in ten private-sector workers—and 81% of low-wage workers —don’t have a single paid sick day to recover from common, short-term illnesses.

Chile, Mexico, Turkey only developed countries more economically unequal than U.S.

Median household wealth at lowest since 1969

Nearly half of Americans die with hardly any assets

Union membership & middle class income

Decline of middle class income (blue)
and union membership (red) - Atlantic

Growth vs. pay

For first time, older workers more numerous than younger ones

Robert Tornoe, Newsworks - In most European countries like Germany, it's typical for workers to have six weeks of paid vacation. In fact, most take off three consecutive weeks in August when most of the countries in Europe shut down. While most industrialized nations guarantee their workers at least 20 paid vacation days a year, the U.S. guarantees their workers exactly zero.

Meet the working poor


17 million Americans who really didn't need to go to college, including 80,000 bartenders and 5,000 janitors with PhDs.
Chronicle of Higher Education based on Bureau of Labor Statistic data

35-44 year olds worst losers in net worth

Robert Tornoe, Newsworks - In most European countries like Germany, it's typical for workers to have six weeks of paid vacation. In fact, most take off three consecutive weeks in August when most of the countries in Europe shut down. While most industrialized nations guarantee their workers at least 20 paid vacation days a year, the U.S. guarantees their workers exactly zero.

Decline of middle class income (blue)
and union membership (red) - Atlantic

Percentage change in the past twenty-five years in the net worth of Americans thirty-five and younger: -68 - Harpers

The latest edition of UNICEF's report on child poverty in developed countries found that 30 million children in 35 of the world's richest countries live in poverty. Among those countries, the United States ranks second on the scale of what economists call "relative child poverty" -- above Latvia, Bulgaria, Spain, Greece, and 29 others.

High school student employment down 50% since 1990

THE UNION

Bernie Sanders: Corporate tax revenue in 2010 was 27% smaller than 2000, even though corporate profits are up 60 percent over the last decade.


PRODUCTIVITY VS WAGES

Job losses under Bush & Obama

PAUL KRUGMAN, NY TIMES


IMPLODE O METER


How Reagan got our disaster going

Union membership notched up in 2011

Bill Quigley, Truth Out - In 2011, the US Department of Labor reported at least 10 million people worked and were still below the unrealistic official US poverty line, an increase of 1.5 million more than the last time they checked. The US poverty line is $18,530 for a mom and two kids. Since 2007 the numbers of working poor have been increasing. About 7 percent of all workers and 4 percent of all full-time workers earn wages that leave them below the poverty line. One third of the working poor, over 3 million people, work in the service industry. Workers in other occupations are also poor: 16 percent of those in farming; 11 percent in construction; and 11 percent in sales. Women workers are more likely to be poor than men. African American and Hispanic workers are about twice as likely to be poor as whites. College graduates have a 2 percent poverty rate while workers without a high school diploma have a poverty rate 10 times higher at 20 percent. Ten percent of US workers earn $8.50 an hour or less according to the US Department of Labor. About 12 percent have health care and about 12 percent have retirement benefits. Nearly one in four get paid sick leave and less than half get paid vacation leave.

Earnings of men collapse over past 40 years

Record number of Americans 55 and older are working


CENTER ON BUDGET & POLICY PRIORITES

Tens of thousands of British public workers strike

Another GOP myth exploded: Public workers earn less than private peers

Stats

Fifty percent of U.S. workers earned less than $26,364 last year

Record number of underemployed

Most Texas job growth went to immigrants

According a study by the British Guardian, the 1.4% increase in unemployment during the Obama administration has been concentrated in about half the states (the darker ones above). You can get details on your state by going here

Bernie Sanders notes that of the total income increase in 2010, 93% went to the top 1% and only 7% to the bottom 99%.

About 60 percent of U.S. workers said they have less than $25,000 in savings and investments.

ncome

According to the Pew Research Center, 61 percent of all Americans were "middle income" back in 1971. Today, only 51 percent of all Americans are.

The median income of American households dropped to its lowest level since 1995 last year

From 1980-2005, 80% of all of the income growth went to the top 1%.

Labor

Decline of middle class income (blue)
and union membership (red) - Atlantic

Record number of Americans 55 and older are still working

Minimum wage in real value less than in 1968

Minimum wage corrected for inflation is lower than 1968 level

Office space per worker down by over a half since the 1970s

Poverty

From 2000 to 2010, the number of children living in poverty jumped from 12.2 million to 15.7 million, an increase of nearly 30 percent.

Welfare

According to the U.S. Census Bureau, an all-time record 49 percent of all Americans live in a home where at least one person receives financial assistance from the federal government. Back in 1983, that number was less than 30 percent.

Poverty

Number and percent using food stamps

Child homelessness up 33% in three years setting record

http://www.offthechartsblog.org/

Wealth & income

Percent of Forbes richest 400 making money from money: 25% now vs 8% in 1982

Black-white wealth gap worst on record

Corporate tax revenue in 2010 was 27% lower than 2000, even though corporate profits are up 60% over the last decade. - Bernie Sanders

From 1947 to 1979 family income of the bottom 20% went up 116% and those in the top 20% went up 99%. . . Between 1980 and 2009, the bottom 20% went up 15% while the top 20% went up 95%

A third of American middle class in the 1970s has fallen out of it

Food prices: biggest rise since 1974

Middle class income less than in 1971

Share of U.S. taxes paid by corporations from 30% in 1950s to 7% in 2009

Cars sold in U.S. down 29% in 2010 from 2005

Meet the working poor

Bill Quigley, Truth Out - In 2011, the US Department of Labor reported at least 10 million people worked and were still below the unrealistic official US poverty line, an increase of 1.5 million more than the last time they checked. The US poverty line is $18,530 for a mom and two kids. Since 2007 the numbers of working poor have been increasing. About 7 percent of all workers and 4 percent of all full-time workers earn wages that leave them below the poverty line. One third of the working poor, over 3 million people, work in the service industry. Workers in other occupations are also poor: 16 percent of those in farming; 11 percent in construction; and 11 percent in sales. Women workers are more likely to be poor than men. African American and Hispanic workers are about twice as likely to be poor as whites. College graduates have a 2 percent poverty rate while workers without a high school diploma have a poverty rate 10 times higher at 20 percent. Ten percent of US workers earn $8.50 an hour or less according to the US Department of Labor. About 12 percent have health care and about 12 percent have retirement benefits. Nearly one in four get paid sick leave and less than half get paid vacation leave.

While poverty gradually declined in the decades since King's death -- 32.4 million Americans lived below the threshold in 1986, the year the King holiday was first celebrated -- the numbers have climbed in recent years as the economy soured. Today, as the nation celebrates MLK Day for the 27th time, 46.2 million of its people have slid into the misery that King spent his final years fighting, with blacks experiencing the highest rate of any group: 27 percent. - Mercury News, CA

Iceland is No. 1. But we did beat out Poland and Slovakia, right? Uh...no. But go on down the rankings and there we are! No. 27, fifth from the bottom. ... A foundation in Germany has analyzed the social justice records of all 31 members of the Organization for Economic Co-operation and Development, ranking each nation in such categories as health care, income inequality, pre-school education, and child poverty. The overall performance by the United States — which boasts of being an egalitarian society — outranks only Greece, Chile, Mexico, and Turkey. - Jim Hightower

The collapse of earnings for men over past 40 years

According to government statistics, if the same number of people were seeking work today as in 2007, the jobless rate would be 11 percent

The military is a lousy way to create jobs


CENTER ON BUDGET & POLICY PRIORITES

CENTER FOR BUDGET & POLICY PRIORITIES

Poverty would be 29% without government programs


Why does the media keep saying the recession is over?

OccupyUTAustin

Internet sightings

Wonder where the money went?

 

What really caused the deficit?


CENTER ON BUDGET & POLICY PRIORITIES

Fifty percent of U.S. workers earned less than $26,364 last year

From 1947 to 1979 family income of the bottom 20% went up 116% and those in the top 20% went up 99%. . . Between 1980 and 2009, the bottom 20% went up 15% while the top 20% went up 95%

HOW YOUR STATE'S GDP COMPARES

2010

Changes in retail spending

90% OF HOUSEHOLDS EARNING $900 A YEAR LESS THAN IN 1979;
ONE PERCENT ARE EARNING $700,000 MORE

TEACHING AMERICA NOT TO MAKE
BUESINESS INSIDER

INTERNET SIGHTINGS

THE GROWING UNDERCLASS

2009

Robert Creamer, Huffington Post - Over the last several decades, the financial sector has grown relentlessly. It has doubled in size over the last 14 years. During the period 1973 to 1985 the financial sector never earned more than 16% of domestic profits. This decade, it has averaged 41% of all the profits earned by businesses in the U.S. In 1947 the financial sector represented only 2.5% of our gross domestic product. In 2006 it had risen to 8%. In other words, of every 12.5 dollars earned in the United States, one goes to the financial sector, much of which, let us recall, produces nothing.

MINIMUM WAGE STUCK IN THE 1950S

Holly Sklar ZNet - Are you better off than you were 40 years ago? Not if you're a minimum wage worker. It would take $9.92 today to match the buying power of the minimum wage at its peak in 1968, the year Martin Luther King died fighting for living wages for sanitation workers. In today's dollars, the 1968 hourly minimum wage adds up to $20,634 a year working full time. The new federal minimum wage of $7.25 comes to just $15,080. That's $5,554 in lost wages. . . The minimum wage is stuck in the 1950s. With the raise, the minimum wage is higher than 1950's inflation- adjusted $6.71, but lower than the 1956 minimum wage of $7.93 in today's dollars.

Nation - Since 1940, Republicans have controlled the White House for thirty-six years; Democrats for thirty-three. Yet Bureau of Labor Statistics data show that almost two-thirds of new jobs were created during Democratic administrations.

Boston Globe - Since the beginning of the decade, the employment rate, or percentage of people working, has declined broadly for Americans under 30, with teens hardest hit. . . The percentage of working US teens plunged to 33 percent, or 1 in 3, in 2008, from 45 percent in 2000, or nearly 1 in 2. Meanwhile, the percentage of working adults over 55 rose to 38 percent nationally from 32 percent. . . Industries that traditionally offered work to teens, such as retail, food service, and entertainment, are increasingly filling jobs with older workers, according to the Center for Labor Market Studies. The number of 55- to 64-year-olds working in these industries has increased nationally by nearly 500,000, or 25 percent, since 2000. Teen employment in these industries declined by nearly 560,000, or 12 percent, during the same period

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