Macroeconomic Measures Wisconsin Council for the Social Studies March 21, 2011 Dr. Norm Cloutier, Director UW-Parkside Center for Economic Education.

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Macroeconomic Measures Wisconsin Council for the Social Studies March 21, 2011 Dr. Norm Cloutier, Director UW-Parkside Center for Economic Education

Inflation: CPI-U and Core (12-month average) http://data.bls.gov/cgi-bin/surveymost?cu CUUR0000SA0 CUUR0000SA0L1E

We Have Turned the Corner (??) 2010 Q4= 3.2% http://www.bea.gov/national/index.htm#gdp Real GDP decline in Great Recession (2005 Chain-weighted): 2008 Q2 13,359 2009 Q2 12,810 -4.11%

Unemployment: U3 and <HS Education January 2011 14.2% 9.0%

Job Loss as Percentage of Employment Peak Lost > 500,000 jobs per month, Oct 2008 thru Apr 2009 1981 recession total employment returned to peak (91.6 mil) 12 months after the end of the recession. Peak unemployment 10.8%. 1990 recession total employment returned to peak (109.8 mil) 23 months after the end of the recession. Peak unemployment 7.8%. 2001 recession total employment returned to peak (132.5 mil) 39 months after the end of the recession. Peak unemployment 6.3%. 2007 recession total employment returned to peak (138.2 mil) Employment August 2009= 131.2 mil Sept 2009= 130.9 mil Feb 2010 8.76 mil jobs lost

Since Late-Oct 2009 Initial Unemployment Claims Have Been Declining

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