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Graphic Economics

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



Sales of Existing Single Family Homes Print

June 25, 2013

May sales of new homes were up 2.1 percent from April and 29.0 percent from year-ago levels. For existing homes the May rise was 4.2 percent from April and 12.9 percent compared with the year-ago level.

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For more, check out the latest Housing Market Monitor.

 
Growth in Food Services and Drinking Places Employment as a Share of Nonfarm Employment Growth Print

June 7, 2013

The May jobs report was moderately positive, showing a gain of 175,000 jobs. Together with a small downward revision to prior months growth, this brings the average over the last three months to 155,000. This means that we are closing the 9 million jobs hole at a rate of roughly 660,000 a year. There was little change in the unemployment or employment data reported in the household survey.

Older workers continued to get the bulk of the employment gains, with employment of workers of age 55 accounting for 203,000 of the 319,000 gain in employment reported for May. Over the last year they have accounted for 1,205,000 of the 1,596,000 reported growth in employment.

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It is also worth noting that restaurant employment continues to account for a hugely disproportionate share of the job growth adding 38,000 jobsin May after adding 34,000 in April. This is evidence of a weak job market. Restaurants always want to hire workers, but in a good job market the jobs go unfilled. In this job market workers see no alternatives.

For more, check out our latest Jobs Byte.

 
Wages Net of Payroll Taxes: 2013 and 2045 Print

May 31, 2013

 

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For more, read the latest Social Security Byte.

 
Year-Round Vacancy Rate, 1965-2013 Print

May 28, 2013

The year-round vacancy rate stood at 10.5 percent in the first quarter of 2013. This is down from a peak of more than 11.0 percent in 2010, but still well above the vacancy rate in the years before the bubble. The vacancy rate was under 9.0 percent in the 1990s and less than 8.0 percent in prior decades. The high level of vacancies will limit the pace at which prices rise and starts increase in many areas. If a normal rate of starts is in the range of 1.4-1.5 million units, the sector is not likely to reach this pace until at least 2015.

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For more check out our latest Housing Market Monitor.

 
Unemployment Rate, Educational Attainment, 2007-2013 Print

May 3, 2013

One issue worth emphasizing from the recent job numbers and past reports is that there is zero evidence that the prolonged period of high unemployment is due to a lack of skills of the workforce. This is known because there are no major areas of the economy in which we see the standard signs of a shortage of skilled workers: rising wages, increasing hours, and large numbers of vacancies. However at an even more basic level, the rise in unemployment rates has been roughly proportionate across education levels.

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For more, check out the latest Jobs Byte.

 
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