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Graphic Economics

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



Employment Growth After Recessions Print
April 1, 2011

While the recent acceleration in job growth is encouraging, it is still an extremely weak recovery from a downturn as severe as we have just experienced. Based on the experience of the last two severe recessions, 1974-75 and 1981-82, we should be expecting job growth in the range of 400,000 a month. Instead, we are still seeing a rate of job growth that is below the 250,000-a-month average from the 90s.

jobs-2011-04-ge

For more, read our latest Jobs Byte.

 
New Single-Family Houses Sold by Region, 2005-2011 Print
March 29, 2011

The plunge in new home sales in February caught the attention of many reporters and housing analysts. The 250,000 annual rate of sales reported for the month is by far the lowest on record and is down by more than 80 percent from levels reported in 2005 near the peak of the bubbles. The decline in new home sales have been even more severe in the West and Midwest, where they are down by 87 and 88 percent, respectively from their bubble peaks.

While these declines are dramatic, they are not unexpected. The bubble prompted an enormous building boom, which led to a massive over-supply of housing. A major part of the correction process must be a sharp reduction in the homes being built each year, which we have seen. The February number for starts of single-family units was down almost 80 percent from the peak of the boom. After a period of weak construction, supply and demand will eventually come back into balance.

hmm-2011-03-ge

For more, read our latest Housing Market Monitor.

 
Price of Crude Goods, 2000-2011 Print
March 17, 2011

The producer price of crude goods rose 3.4 percent last month and 15.9 percent in the last 12 months.  However, the price of these goods had fallen sharply in 2008 and are still 16 percent below their peak in July 2008.  Despite the rapid inflation leading up the the 2008 peak, prices are still below the 2002-2007 trendFo.

prices-2011-03-ge

For more, read our latest Prices Byte.

 
Employment-to-Population Ratio for Men and Women, Age 20+, 2000-2011 Print
March 4, 2011

The Bureau of Labor Statistics household survey shows clear evidence of an improving labor market, at least for men. The unemployment rate for men over age 20 fell from 10.0 percent in February of last year to 8.7 percent last month. The employment-to-population (EPOP) ratio has risen by 0.4 percentage points over this period. By contrast, the unemployment rate for women over age 20 stayed constant at 8.0 percent over the last year. Their EPOP actually fell by 0.6 percentage points over this period. The EPOP for men is still down by 6.1 percentage points from its pre-recession peak and 7.4 percentage points from its peak in 2000. For women, the February EPOP is 3.3 percentage points below the pre-recession peak and 3.6 percentage points below the 2000 peak.

jobs-2011-03-ge

For more, check out the latest Jobs Byte.

 
Real Home Price Index by Tier, Portland and Seattle, 1997-2010 Print
February 22, 2011

In Portland, recent housing price declines are concentrated in the bottom tier of the market, undoubtedly the result of the end of the first-time buyers tax credit. Prices in this segment of the market have fallen at a 24.3 percent annual rate over the last three months compared with a 13.9 percent rate at the top end. In Seattle the pattern is more mixed, with prices falling at a 14.8 percent rate at the bottom end compared with a 17.4 percent rate for homes in the top tier.

hmm-2011-2-ge

For more info, read the entire Housing Market Monitor.

 
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