July 3, 2009

Good Economic News

Since the press seems full of nothing but gloomy economic news for the past year or so. In honor of the 4th of July, I figured it would be nice to highlight some positive economic data.

Higher wages, lower prices, more savings...

In the past 12 months average hourly wages rose 3.1%

Gasoline prices are 37% lower now than they were this time last summer.

The Housing Affordability Index rose 32.5% in the 12 months from May 2008 to May 2009.

Americans are saving over 4% of their disposable income.

Mortgage interest rates on 30 year fixed loans are 20% lower today than a year ago.

Crime has been going down...

Violent crime rates were down 2.5% in 2008.

Looking at things with a 'glass is half full' perspective...

90.6% of working Americans are employed.

92.5% of working women in the US are employed.

99.5% of banks are operating successfully in 2009.

99.75% of mortgages did not go into foreclosure in May 2009.

55% of Americans carry no credit card balances

23% of Americans have no debt whatsoever

Data sources: Employment Situation Summary for May 2009 FDIC bank stats. Realtytrac May foreclosure report Realtor Housing Affordability Index. FBI crime data. Gasbuddy BEA savings rate Freddiemac mortgage data

Image by kevinzhengli

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