Monday, January 30, 2006

Its the Economy Stupid Redux

Ahead of the President's State of the Union address I thought some more good news about the economy was in order. I'm sure that the President will mention some of these economic statistics tomorrow night and I thought it would be nice if it wasn't the first time that you heard about them. Lord knows that the MSM isn't putting this info out there. All of these stats and more are easily found at the Bureau of Economic Analysis and the Bureau of Labor Statistics.
Unemployment now stands at a three decade low of 4.9%.
Personal income rose 0.4% in December with wages and salaries, the largest component, growing by 0.3%.
Real disposable income, which is the amount of personal income available for spending/saving, rose 0.4% in December which followed an increase of 0.8% in November.
Average hourly earnings rose to a record $16.34 in December.
Productivity data from the 3rd qtr., which is the most recent available, was revised upward to 5.4% in the business sector and 4.7% in the nonfarm business sector. Remember that productivity is measured by output per hour of all persons.
Consumer Price Index has decreased by 0.6% in November and 0.1% in December.
These are but a few positive economic indicators that point to our economy being strong and robust with continued upward mobility.


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