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ECONOMIC INDICATORS

ECONOMIC INDICATORS. ECONOMIC INDICATORS. An economic indicator is any economic statistic , such as the unemployment rate, which shows us how well the economy is doing and how well the economy is going to do in the future.

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ECONOMIC INDICATORS

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  1. ECONOMIC INDICATORS

  2. ECONOMIC INDICATORS • An economic indicator is any economic statistic, such as the unemployment rate, which shows us how well the economy is doing and how well the economy is going to do in the future. • An indicator is anything that can be used to predict future financial or economic trends. • Source: http://economics.about.com/cs/businesscycles/a/economic_ind.htm

  3. CPI – Consumer Price Index • Imagine a basket of goods, like groceries, fuel, clothing, medical care, phone bills, tuition at school • CPI measures the change in the prices over time of consumer items—goods and services that people buy for day-to-day living

  4. Consumer Price Index – InflationSince 1994, prices have increased 54.8% 1994 Prices 2012 Prices • Regular Gas Prices: $1.11 / gallon • Average State School Tuition: $2,700 • Big Mac: $2.30 • Movie Ticket: $4.08 • Regular Gas Prices: $3.75 / gallon • Average State School Tuition: $8,244 • Big Mac: $4.20 • Movie Ticket: $10.25

  5. GROSS DOMESTIC PRODUCT - GDP • Total value of all goods and services produced over a specific time period • You can think of it as the size of the economy • GDP for USA in 2010 – $14.6 Trillion • GDP for USA in 1994 – $6.99 Trillion

  6. GROSS DOMESTIC PRODUCT – GDP • http://www.google.com/publicdata/explore?ds=d5bncppjof8f9_&ctype=l&strail=false&bcs=d&nselm=h&met_y=ny_gdp_mktp_cd&scale_y=lin&ind_y=false&rdim=region&idim=country:USA:CAN&idim=region:LAC:ECA:EAP:SSA:SAS&ifdim=region&tstart=768974400000&tend=1273896000000&hl=en&dl=en&ind=false&q=gdp

  7. Unemployment • The number of people without jobs who are actively seeking work • March 2012 - 8.2% • Employment improved in manufacturing, food services and drinking places, and health care, but was down in retail trade.

  8. Unemployment Data - Google • http://www.google.com/publicdata/explore?ds=z1ebjpgk2654c1_&ctype=l&strail=false&bcs=d&nselm=h&met_y=unemployment_rate&fdim_y=seasonality:S&scale_y=lin&ind_y=false&rdim=country&idim=state:ST420000:ST540000:ST390000&ifdim=country&tstart=768974400000&tend=1334462400000&hl=en&dl=en&ind=false

  9. 10 Highest Paying Jobs in Demand • Biomedical EngineersJob Growth in Next Decade: 72% (#1 in all jobs)Education: Master’s DegreeEarnings: $57,000 – $77,0000 • II. Computer Systems AnalystJob Growth in Next Decade: 53.4% (#2 in all jobs)Education: Graduate Preferred, Bachelor’s with Experience also Preferred.Earnings: $77,000 – $89,0000 • III. Physician AssistantsJob Growth in Next Decade: 39.0% (#7 in all jobs)Education: PA degree required (2 years plus prerequisite coursework)Earnings: $68,000 – $97,0000, average is $81,000 • IV. BiochemistsJob Growth in Next Decade: 39.0% (#9 in all jobs)Education: Graduate PreferredEarnings: $59,000- $108,000 • V. Dental Hygienist Job Growth in Next Decade: 36.1% (#11 in all jobs)Education: Post- undergraduate (2 + 3 years) Dental Hygiene certificateEarnings: $55,000- $78,000, average is $82,000

  10. 10 Highest Paying Jobs in Demand • VI. Computer Software Engineer • Job Growth in Next Decade: 34.0% (#14 in all jobs)Education: Bachelor’s DegreeEarnings: $67,000- $104,000 • VII. Veterinarians • Job Growth in Next Decade: 33.3% (#17 in all jobs)Education: Doctor of Veterinary Medicine (D.V.M) + Undergraduate DegreeEarnings: $61,000- $104,000 • VIII. Environmental Engineers • Job Growth in Next Decade: 30.6% (#21 in all jobs)Education: Graduate PreferredEarnings: $56,000- $94,000 • IX. Survey Researchers • Job Growth in Next Decade: 30.4% (#25 in all jobs)Education: Bachelor’sEarnings: $43,000- $85,100 • X. Physical TherapistsJob Growth in Next Decade: 30.3% (#27 in all jobs)Education: Prerequisite coursework followed by 2- 2.5 year PT programEarnings: $50,000- $104,000

  11. Top 10 Best-Paying College Degrees in 2010 • College Degree               Starting Median Pay   Mid-career pay • Petroleum engineering       $93,000                 $157,000 • Aerospace engineering       $59,400              $108,000 • Chemical engineering         $64,800                $108,000 • Electrical engineering          $60,800               $104,000 • Nuclear engineering            $63,900                 $104,000 • Applied mathematics           $56,400                $101,000 • Biomedical engineering       $54,800                $101,000 • Physics                                $50,700               $99,600 • Computer engineering         $61,200                $87,700 • Economics                           $48,800               $97,800 • Computer science                $56,200              $97,700 • Civil engineering                   $53,500          $93,400 • Statistics                               $50,000                $93,400 • Finance                                 $47,500                 $91,500 • Software engineering            $56,700                 $91,300

  12. 5 MOST IN DEMAND JOBS – NO COLLEGE DEGREE REQUIRED 1. Home Health Aides: Wage as of 2010: $10.18Offer health care services in the residences of aging adults or even individuals with long-term health problems or disabilities. 2. Personal Care Aides: Wage as of 2010: $10.73Drive patients to places outside the residence, like going to doctor's appointments; housekeeping 3. Dental Assistants Wage as of 2010: $15.92Find patients' medical files for the dentist's purpose.Prepare patients for the dentist's examination.

  13. MOST IN DEMAND JOBS – NO COLLEGE DEGREE REQUIRED 4. Medical Assistants: Wage as of 2010 $12.67Manage medical documents, bookkeeping, and answering phones 5. Construction Laborers: Wage as of 2010 $14.28Carry out any kind of task on the work site.Load and unload equipment and materials, set up and take down scaffoldings, clean work areas, and transport supplies to other workers, etc.

  14. Worst Paying College Degrees College Degrees         Starting Median Salary       Mid-career • Social Work                        $33,400                      $41,600 • Elementary Education         $33,000                      $42,400 • Theology                            $34,800                      $51,500 • Music                                 $34,000                      $52,000 • Spanish                              $35,600                      $52,600 • Horticulture                        $37,200                      $53,400 • Education                           $36,200                      $54,100 • Hospitality/Tourism           $37,000                       $54,300 • Fine Arts                            $35,800                       $56,300 • Drama                                $35,600                      $56,600

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