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The historical average unemployment rate (January 1948-September 2020) is 5.8%. [4] The government's broader U-6 unemployment rate, which includes the part-time underemployed was 8.3% in September 2017.
However, from December 1982 through December 2011, the all-items CPI-E rose at an annual average rate of 3.1 percent, compared with increases of 2.9 percent for both the CPI-U and CPI-W. [28] This suggests that the elderly have been losing purchasing power at the rate of roughly 0.2 (=3.1–2.9) percentage points per year.
Economist David Wyss of S&P has posited that if GM and Chrysler disappear, there could be an increase of about 1 million imported cars every year, which would remove about $25 billion from the U.S. economy. That would reduce GDP by 0.2 percentage points annually—excluding the impact of lost jobs (higher unemployment) and wages.
While the prices of new cars continue to soar, used cars are actually becoming more affordable. Over the past year, used cars have become 5.8% more affordable on average as prices fell and median...
The automotive industry was weakened by a substantial increase in the prices of automotive fuels [2] linked to the 2003–2008 energy crisis which discouraged purchases of sport utility vehicles (SUVs) and pickup trucks which have low fuel economy. [3]
Be Aware: 4 SUVs That Will Have Massive Price Drops in Early 2025 Good To Know: 5 Non-Luxury Cars That Make the Middle Class Feel Rich As Forbes noted, cars from 1970 averaged about 5.7 years and ...
Average hourly earnings rose 0.2% in October after climbing 0.3% in September. In the 12 months through October, wages increased 4.1%, the smallest increase since June 2021, after rising 4.3% in ...
The BMI takes the sum of the inflation and unemployment rates, and adds to that the interest rate, plus (minus) the shortfall (surplus) between the actual and trend rate of GDP growth. In the late 2000s, Johns Hopkins economist Steve Hanke built upon Barro's misery index and began applying it to countries beyond the United States. His modified ...