Mc afee econ data

1

A Bunch of Data about the US Economy and Workforce

Andrew McAfee, [email protected]

@amcafee

© Andrew McAfee, 2014

Trends

Source: research.stlouisfed.org

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 20130

50

100

150

200

250

300

350

400

Trends in US GDP, Profits, and Investment1995-2013

GDP

Corporate Investment: Equipment and Software

All Profits After Tax

Non-Financial Profits After Tax

Leve

l of G

DP,

Pro

fits,

and

Inve

stm

ent (

Jan-

95 =

100

)


Trends

1995 1996 1997 1998 1999 2000 2001 2002 2003 2004 2005 2006 2007 2008 2009 2010 2011 2012 20130

50

100

150

200

250

300

350

400

58

63

68

73

78

Trends in US GDP, Profits, Investment, and Employment,1995-2013

GDP

Corporate Investment: Equipment and Software

All Profits After Tax

Non-Financial Profits After Tax

Employment to Population Ratio

Leve

l of G

DP,

Pro

fits,

and

Inve

stm

ent (

Jan-

95 =

100

)

Empl

oym

ent-

Popu

latio

n Ra

tio



Duration of Unemployment

1948 1953 1958 1963 1968 1973 1978 1983 1988 1993 1998 2003 2008 20130

5

10

15

20

25

30

35

40

45

Mean

Median

Median & Mean Duration of Unemployment, 1948-2013

# of

Wee

ks



Job Creation

1 2 3 4 5 6 7 8 9 10-5%

0%

5%

10%

15%

20%

25%

30%

35%

40%

45%

1940s 37.7%

1950s 24.5%

1960s 31.3%

1970s 27.4%

1980s 20.2%1990s 19.8%

2000s -1.0%

US Job Growth by Decade, 1940s-2000s

Year in Decade

Perc

enta

ge C

hang

e in

Non

-Far

m P

ayro

ll Em

ploy

men

t



Profit vs Labor

1947 1952 1957 1962 1967 1972 1977 1982 1987 1992 1997 2002 2007 20120

2

4

6

8

10

96

99

102

105

108

111

114

117

120Corporate Profit as %

of GDP

Labor Shareof GDP

Corporate Profits After Tax as % of GDP & Non-Farm Labor Share, 1947-2013

Corp

roat

e Pr

ofits

as

% o

f GD

P

Labo

r Sha

re (2

009

= 10

0)



Skill Disparities

19631965

19671969

19711973

19751977

19791981

19831985

19871989

19911993

19951997

19992001

20032005

2007-0.1

0.0

0.1

0.2

0.3

0.4

0.5

0.6

Changes in Wages for Full-Time, Full-Year Male U.S. Workers, 1963-2008

Com

posi

tion-

Adj

uste

d Re

al L

og W

eekl

y W

ages

Graduate School

College Graduate

Some Col-lege

High School Graduate

High School Dropout

Source: Acemoglu and Autor, 2010 http://economics.mit.edu/files/7006


Superstar Earners

19131917

19211925

19291933

19371941

19451949

19531957

19611965

19691973

19771981

19851989

19931997

20012005

20090.0%

1.0%

2.0%

3.0%

4.0%

5.0%

6.0%

7.0%

U.S. Top 0.01% Income Share, 1913-2012

Inco

me

Shar

e

Source: Saez, 2013: http://elsa.berkeley.edu/~saez/saez-UStopincomes-2012.pdf


The Great Decoupling

1950

1960

1970

1980

1990

2000

2012

0

100

200

300

400

US Productivity, Real GDP per capita, Employment and Income: 1947-2012

Labor ProductivityPrivate EmploymentMedian Family IncomeReal GDP per Capita US

1947

=100


Mc afee econ data

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