Download PowerPoint on US Economy: used in presentation with group where

Economic Situation Fall 2011
Ryan Dover, Amanda Eddie, Emily Knapp,
Brandon Palmer, Mike Shields
Introduction
•
•
•
•
•
•
•
13 Recessions, since Great Depression
Oil prices 1970's
Tech stocks 1990's
Subprime mortgages
Job lag
Poverty
Unemployment
Recession
This recession has
been 2x longer than
the recession in the
early 90’s
Recession Cont.
This recession was 15x larger
than the previous one
Job Growth
http://www.cleveland.com/datacentral/index.ssf/2010/10/us_job_growth_and_loss_under_p.html
Jobs Program
• Keynesian Fiscal Stimuli
• Payroll Tax Cuts
• New Demand
 Increase GDP
 Creation of More Jobs
http://www.msnbc.msn.com/id/44489655/ns/business-eye_on_the_economy/
Job Outlook
• Positive
• Not Drastic
• Added 1% by
2014
• Slow Recovery
http://www.usatoday.com/money/economy/story/Jobs-Forecast-2011/34083932/1
Today’s unemployment rate is not historically
unprecedented, but it only tells part of the story…
Poverty on the Rise
According to Census Bureau data, the U.S.
poverty rate rose last year to 15.1 percent,
the highest level in 17 years.
http://www.npr.org/2011/09/13/140438725/census-2010-saw-povertyrate-increase-income-drop
How many are truly unemployed, or
underemployed?
Typically, “job leavers” comprise about half of total
unemployed. Today, “job losers” account for a
much higher portion.
Today’s job seeker spends about 22 weeks seeking
work, nearly double that of recent recessions.
Conclusion
• 13 recessions since
Great Depression
• Recession ended
June 2009
• Unemployment
problems persist
• Housing prices still
falling