Twelve Surprising Facts about the Economy

 1. Marriage may enhance one’s career prospects.  The unemployment rate for all males is 8.4% versus…4.9% for married men.

2.  The unemployment rate for college grads is less than 4%.  For high school dropouts, it’s 13%.

 3. Between 1990 and 2008, China’s labor force increased by 145 million.  The entire U. S. labor force is 156 million.

4. Historian Frederick Lewis Allen noted that wages fell by 60% between 1929 and 1932.  By contrast, wages declined by 5% during the 2007-2009 recession. 

5. Talk about concentration of wealth!  In Russia, 100 people (0.00007%) control 20% of the wealth.

6. Always a leader, California will spend nearly $9 billion on prisons versus $4.8 billion on its university systems during 2012-2013.

7. Boeing accounts for nearly 2% of all U. S. exports!

8. Contrary to conventional wisdom and according to the Pew Economic Mobility Project, five of six American families earn more than their parents did. 

9. The Boston Consulting Group reports that manufacturing wages, benefits, and taxes are $22.30 per hour…versus $2 per hour in China.  The good news is that American factories are vastly more productive, resulting in Chinese effective labor costs that are only 55% lower. 

10. The New York Times reported the following:  “In the last five years, the United States and Canada combined have become the fastest-growing sources of new oil supplies around the world, overtaking producers like Russia and Saudi Arabia.”

11. A mere 10 years ago, people were shocked when overnight lending rates dropped to 2.5%.  Today, the 10-year Treasury yield is less than 2%.

12. According to the Fed’s Survey of Consumer Finance, only 52% of American families were able to save anything in 2010.

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