Friday, September 2, 2011

Zero, Zip, Zilch, Nada!!!

The last time there were no new jobs was February 1945, Franklin D. Roosevelt was President and the country was busy with a little thing called World War II (The Battle of Manila, The Yalta Conference, The bombing of Dresden, Germany and the US Marines landed on Iwo Jima all occurred in February 1945.)

Unemployment 1945 vs. 2011



1945
2011
Unemployment
1.9%
9.1%

Source: Bureau of Labor Statistics, "Employment status of the civilian noninstitutional population, 1940 to date." Available at http://www.bls.gov/cps/cpsaat1.pdf.

 

In February, 1945, the last time there were no new jobs, the unemployment rate was only 1.9%. In August, 2011 the unemployment rate is 9.1%. This means that in 1945, even though there were no new jobs, there were also less people in need of jobs and a higher percentage of the poplulation had jobs when compared to 2011.

 

 

Some Fun Facts:

In 1945:

US GDP (1998 dollars): $223.2 billion
Federal spending: $92.71 billion
Federal debt: $260.1 billion
Dow Jones High/Low: 195/155
Consumer Price Index: 18


Average Costs 1945 & 2011:


1945
2011
Average Cost of new house
$4.600.00
$222,000
Cost of a gallon of Gas
$0.15
$3.97
Postage stamp
$0.03
$0.44


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