https://www.thebalancemoney.com/unemployment-rate-by-year-3305506
This includes the US UC unemployment rate%, GDP% growth, CPI and Core Inflation by year. Years with high unemployment, low GDP growth and a high cost of living index should be avoided, but never are avoided.
Over the past 58 years, from 1965 to 2023, Unemployment has ranged from 2.8% in 1967 to 10.8% in 1982. Nominal GDP from 1965 to 2023 has ranged from -0.2 in 1975 to 7.2 in 1984. The CPI has ranged from 0.1 in 2008 to 13.3% in 1979.
Year UC%
GDP% CPI% Core% President
1965 4.0
6.5 1.9 Johnson
1966 3.8
3.6 3.5
1967 2.8
3.7 3.0
1968 3.4
4.9 3.7
1969 3.5
3.1 6.2 Nixon
1970 6.1
0.2 5.6
1971 6.0
3.3 3.3
1972 5.2
5.3 3.4
1973 4.9
5.6 8.7
1974 7.2
0.5 12.3 Ford
1975 8.2
-0.2
6.9
1976 7.8
5.4
4.9
1977 4.6
4.6 6.7 Carter
1978 6.0
5.5 9.0
1979 6.0
3.2 13.3
1980 7.2
0.3 12.5
1981 8.5
2.5 8.9 Reagan
1982 10.8
1.8 3.8
1983 8.3
4.6 3.8
1984 7.3
7.2 3.9
1985 7.0
4.2 3.8
1986 6.6
3.5 1.1
1987 5.7
3.5 4.4
1988 5.3
4.2 4.4
1989 5.4
3.7 4.6 Bush1
1990 6.3
1.9 6.1
1991 7.3
0.1 3.1
1992 7.4
3.5 2.9
1993 6.5
2.8 2.7 Clinton
1994 5.5
4.0 2.7
1995 5.6
2.7 2.6
1996 5.4
3.8 3.3
1997 4.7
4.4 1.7
1998 4.4
4.5 1.6
1999 4.0
4.8 2.7
2000 3.9
4.1 3.4
2001 5.7
1.0 1.6 Bush2
2002 6.0
1.7 2.4
2003 5.7
2.8 1.9
2004 5.4
3.9 3.3
2005 4.9
3.5 3.4
2006 4.4
2.8 2.5
2007 5.0
2.0 4.1
2008 7.3
0.1 0.1
2009 9.9
2.6 2.7 Obama
2010 9.3
2.7 1.5
2011 8.5
1.5 3.0
2012 7.9
2.3 1.7
2013 6.7
1.8 1.5 1.7
2014 5.6
2.3 0.8 1.6
2015 5.0
2.7 0.7 2.1
2016 4.7
1.7 2.1 2.2
2017 4.1
2.3 2.1 1.8 Trump
2018 3.9
2.9 1.9 2.2
2019 3.6
2.3 2.3 2.3
2020 6.7
3.4 1.4 1.6
2021 3.9
5.7 7.0 5.5 Biden
2022 3.7
3.9 6.5 5.7
UC GDP CPI Core
https://www.thebalancemoney.com/unemployment-rate-by-year-3305506
US Quaterly GDP
2022 % 2023 %
Q1 -1.6
1.1
Q2 -.06
1.8
Q3 3.2 -1.2
Q4 2.9
-1.9 est
Ave 3.9 -0.2 est
https://www.bea.gov/news/2023/gross-domestic-product-first-quarter-2023-advance-estimate
Comments
There is a big difference between “real” gdp and nominal gdp. Real GDP is not real and includes an inflation add-on that inflates the numbers. Nominal GDP is real and reports actual dollars in real time.
CPI became “not real”. It has
been “redefined” down continually since 1940.
https://www.bls.gov/cpi/additional-resources/historical-changes.htm#:~:text=Improvements%20made%20between%20the%201978%20and%201987%20revisions&text=Selected%20retail%20outlets%20with%20probability,CPI%20pricing%20areas%20each%20year
The Fed uses Core Inflation to measure price increases. Core Inflation measures price increases in apparel, new vehicles, used vehicles, medical care, alcoholic beverages, tobacco, shelter, transportation and airline fares. Core Inflation does not include food or energy.
The Recession of 2022 included negative GDP data in Q1 and Q2. GDP in 2023 has been anemic despite $3 trillion in unnecessary government spending in 2022.
The Recession of 2023 is estimated to include negative GDP data in Q3 and Q4.
CPI
inflation is confusing. BLS has
classified all expenditure items into more than 200 categories, arranged into
eight major groups (food and beverages, housing,
apparel, transportation,
medical care, recreation, education and communication, and other goods and
services).
It is reported that the CPI
stopped counting increases in food and energy prices. Core Inflation doesn’t count food and energy
either.
https://www.investopedia.com/terms/c/coreinflation.asp
https://www.bls.gov/cpi/factsheets/common-misconceptions-about-cpi.htm#tion_1
https://www.usinflationcalculator.com/inflation/united-states-core-inflation-rates/
The inflation we are experiencing now comes from price increases in oil, natural gas, electricity, food, transportation, new vehicles, used vehicles gasoline apartment rent, home costs and interest rates. If we increased the US oil supply and reversed federal government spending, US inflation would be reduced.
Norb Leahy, Dunwoody GA Tea Party
Leader
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