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Graphic Economics

A collection of graphic representations of data by CEPR researchers on important economic issues.



Post-Recession Employment Growth for Men Age 25-54 Print

September 5, 2014

The remarkably weak GDP growth in this recovery is consistent with the extraordinarily weak job growth. While many have tried to explain the weakness on demographics, even if we restrict the focus to prime age men, employment is performing far worse than in prior recoveries. More on the latest employment data in this month's Jobs Byte.

 

jobs-2014-09-ge

 
Change in Employment by Age, 2007-2014 Print

August 1, 2014

Workers over age 55 accounted for all the reported employment growth in July, with an increase in employment of 159,000 compared to 131,000 overall. However, their 43.4 percent share of employment growth over the last year is considerably less than it had been earlier in the recovery.

jobs-2014-08-ge

 
Year-Over-Year- Change in Personal Health Care Expenditure Print

July 30, 2014

After a reported drop in the first quarter, health care costs grew at a 2.6 percent annual rate. They stand just 3.0 percent above their year-ago level. While there were likely some errors in the data leading to a sharp reported rise in spending in the fourth quarter of 2013, followed by a nominal drop last quarter, taken together these numbers indicate there was no surge in spending associated with the implementation of Obamacare.

gdp-2014-07-ge

 
Average Hourly Earnings of Production and Non-supervisory Workers Print

July 3, 2014

The average hourly earnings of production and non-supervisory workers has risen at a 2.3 percent rate over the last year, compared to an increase of 2.0 percent for all workers. This continues a pattern in wage growth that we have seen throughout the recovery with wages of production workers rising more rapidly than wages of supervisory workers, who tend to be better educated.

jobs-2014-07-ge

For more, read our latest Jobs Byte.

 

 
Economy Adds 217,000 Jobs in May; Unemployment Stable at 6.3 Percent Print

The economy added 217,000 jobs in May, bringing the average over the last three months to 234,000. The unemployment rate was unchanged at 6.3 percent in May. This is due to the fact that the 0.4 percentage point plunge in labor force participation reported for April was not reversed. At 62.8 percent, the labor force participation rate is at its lowest level since March of 1978.

The job gains were concentrated in four industries which accounted for half of total job growth in the month: health care (33,600), restaurants (31,700), social assistance (21,300) and employment services (20,200). The jump in health care seemed to be somewhat of an anomaly. It compares to an average of just 18,000 jobs a month over the last year. There had not been a noticeable uptick since the ACA took effect in January, so this growth will likely be partially reversed in the months ahead. The increase in jobs in social assistance was also an anomaly. The monthly data in this category are often erratic, but it has added just 97,500 jobs over the last year.

Job Growth, Select Industries, 2007 - 2014

For more, see the latest Jobs Byte.

 
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