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
July 3, 2009
Good Economic News
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