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todays-economy - Department of Economics University of...

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Department of Economics Fall 2009 University of California Economics 100B Berkeley Professor Olney Handout for September 1, 2009: Today's Economy Data are taken from 2009 Economic Report of the President (ER, Table ...; accessed at http://www.gpoaccess.gov/eop/download.html), 2009 Statistical Abstract (SA, Table #..; accessed at http://www.census.gov/prod/www/abs/statab2006_2009.html), and from government web sites www.bls.gov, www.bea.gov, and www.federalreserve.gov. 1. Real GDP Growth Rate (ER, Table B4 & bea.gov) 1960s 4.4 % 2000-04 2.4% 2008 0.4% 1970s 3.3 % 2005 2.9 % 2009:I -6.4% 1980s 3.1 % 2006 2.7 % 2009:II -1.0% 1990s 3.1 % 2007 2.1 % 2. Unemployment (ER, Table B42 & bls.gov) 1970s 6.2 % 2005 5.1 % Jan-Jul 2009 8.8 % 1980s 7.3 % 2006 4.6 % Jul 2009 9.4 % 1990s 5.8% 2007 4.6 % 2000-04 5.2% 2008 5.8 % 3. Inflation & Deflation (ER, Table B63 & bls.gov) CPI (Dec to Dec) CPI (Dec to Dec) 1970s 7.1 % 2006 3.2 % 1980s 5.0 % 2007 2.8 % 1990s 3.0 % 2008 3.8 % 2000-04 2.6 % 2009 -1.9 % (July - July) 2005 3.4 % 4. Federal Budget Deficit (-) or Surplus (+) (ER, Table B80; cbo.gov; Year ends Sept 30) 2000 + $236 billion 2004 – $413 billion 2008 – $459 billion 2001 + $128 billion 2005 – $318 billion 2009 est – $1,667 billion 2002 – $158 billion 2006 – $248 billion 2010 est – $1,139 billion 2003 – $378 billion 2007 – $162 billion 2011 est
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