Presentation: The National Context

The National Context

EARNCon 2017

Heidi Shierholz, Ph.D.

Senior Economist and Director of Policy

Economic Policy Institute
Thursday, October 26, 2017

Dramatic improvement in the unemployment rate: Unemployment rate of workers age 16 and older, 1997–2017

Date Unemployment rate
Jan-1997 5.3%
Feb-1997 5.2%
Mar-1997 5.2%
Apr-1997 5.1%
May-1997 4.9%
Jun-1997 5.0%
Jul-1997 4.9%
Aug-1997 4.8%
Sep-1997 4.9%
Oct-1997 4.7%
Nov-1997 4.6%
Dec-1997 4.7%
Jan-1998 4.6%
Feb-1998 4.6%
Mar-1998 4.7%
Apr-1998 4.3%
May-1998 4.4%
Jun-1998 4.5%
Jul-1998 4.5%
Aug-1998 4.5%
Sep-1998 4.6%
Oct-1998 4.5%
Nov-1998 4.4%
Dec-1998 4.4%
Jan-1999 4.3%
Feb-1999 4.4%
Mar-1999 4.2%
Apr-1999 4.3%
May-1999 4.2%
Jun-1999 4.3%
Jul-1999 4.3%
Aug-1999 4.2%
Sep-1999 4.2%
Oct-1999 4.1%
Nov-1999 4.1%
Dec-1999 4.0%
Jan-2000 4.0%
Feb-2000 4.1%
Mar-2000 4.0%
Apr-2000 3.8%
May-2000 4.0%
Jun-2000 4.0%
Jul-2000 4.0%
Aug-2000 4.1%
Sep-2000 3.9%
Oct-2000 3.9%
Nov-2000 3.9%
Dec-2000 3.9%
Jan-2001 4.2%
Feb-2001 4.2%
Mar-2001 4.3%
Apr-2001 4.4%
May-2001 4.3%
Jun-2001 4.5%
Jul-2001 4.6%
Aug-2001 4.9%
Sep-2001 5.0%
Oct-2001 5.3%
Nov-2001 5.5%
Dec-2001 5.7%
Jan-2002 5.7%
Feb-2002 5.7%
Mar-2002 5.7%
Apr-2002 5.9%
May-2002 5.8%
Jun-2002 5.8%
Jul-2002 5.8%
Aug-2002 5.7%
Sep-2002 5.7%
Oct-2002 5.7%
Nov-2002 5.9%
Dec-2002 6.0%
Jan-2003 5.8%
Feb-2003 5.9%
Mar-2003 5.9%
Apr-2003 6.0%
May-2003 6.1%
Jun-2003 6.3%
Jul-2003 6.2%
Aug-2003 6.1%
Sep-2003 6.1%
Oct-2003 6.0%
Nov-2003 5.8%
Dec-2003 5.7%
Jan-2004 5.7%
Feb-2004 5.6%
Mar-2004 5.8%
Apr-2004 5.6%
May-2004 5.6%
Jun-2004 5.6%
Jul-2004 5.5%
Aug-2004 5.4%
Sep-2004 5.4%
Oct-2004 5.5%
Nov-2004 5.4%
Dec-2004 5.4%
Jan-2005 5.3%
Feb-2005 5.4%
Mar-2005 5.2%
Apr-2005 5.2%
May-2005 5.1%
Jun-2005 5.0%
Jul-2005 5.0%
Aug-2005 4.9%
Sep-2005 5.0%
Oct-2005 5.0%
Nov-2005 5.0%
Dec-2005 4.9%
Jan-2006 4.7%
Feb-2006 4.8%
Mar-2006 4.7%
Apr-2006 4.7%
May-2006 4.6%
Jun-2006 4.6%
Jul-2006 4.7%
Aug-2006 4.7%
Sep-2006 4.5%
Oct-2006 4.4%
Nov-2006 4.5%
Dec-2006 4.4%
Jan-2007 4.6%
Feb-2007 4.5%
Mar-2007 4.4%
Apr-2007 4.5%
May-2007 4.4%
Jun-2007 4.6%
Jul-2007 4.7%
Aug-2007 4.6%
Sep-2007 4.7%
Oct-2007 4.7%
Nov-2007 4.7%
Dec-2007 5.0%
Jan-2008 5.0%
Feb-2008 4.9%
Mar-2008 5.1%
Apr-2008 5.0%
May-2008 5.4%
Jun-2008 5.6%
Jul-2008 5.8%
Aug-2008 6.1%
Sep-2008 6.1%
Oct-2008 6.5%
Nov-2008 6.8%
Dec-2008 7.3%
Jan-2009 7.8%
Feb-2009 8.3%
Mar-2009 8.7%
Apr-2009 9.0%
May-2009 9.4%
Jun-2009 9.5%
Jul-2009 9.5%
Aug-2009 9.6%
Sep-2009 9.8%
Oct-2009 10.0% 
Nov-2009 9.9%
Dec-2009 9.9%
Jan-2010 9.8%
Feb-2010 9.8%
Mar-2010 9.9%
Apr-2010 9.9%
May-2010 9.6%
Jun-2010 9.4%
Jul-2010 9.4%
Aug-2010 9.5%
Sep-2010 9.5%
Oct-2010 9.4%
Nov-2010 9.8%
Dec-2010 9.3%
Jan-2011 9.1%
Feb-2011 9.0%
Mar-2011 9.0%
Apr-2011 9.1%
May-2011 9.0%
Jun-2011 9.1%
Jul-2011 9.0%
Aug-2011 9.0%
Sep-2011 9.0%
Oct-2011 8.8%
Nov-2011 8.6%
Dec-2011 8.5%
Jan-2012 8.3%
Feb-2012 8.3%
Mar-2012 8.2%
Apr-2012 8.2%
May-2012 8.2%
Jun-2012 8.2%
Jul-2012 8.2%
Aug-2012 8.1%
Sep-2012 7.8%
Oct-2012 7.8%
Nov-2012 7.7%
Dec-2012 7.9%
Jan-2013 8.0%
Feb-2013 7.7%
Mar-2013 7.5%
Apr-2013 7.6%
May-2013 7.5%
Jun-2013 7.5%
Jul-2013 7.3%
Aug-2013 7.3%
Sep-2013 7.3%
Oct-2013 7.2%
Nov-2013 6.9%
Dec-2013 6.7%
Jan-2014 6.6%
Feb-2014 6.7%
Mar-2014 6.7%
Apr-2014 6.2%
May-2014 6.2%
Jun-2014 6.1%
Jul-2014 6.2%
Aug-2014 6.2%
Sep-2014 6.0%
Oct-2014 5.7%
Nov-2014 5.8%
Dec-2014 5.6%
Jan-2015 5.7%
Feb-2015 5.5%
Mar-2015 5.5%
Apr-2015 5.4%
May-2015 5.5%
Jun-2015 5.3%
Jul-2015 5.3%
Aug-2015 5.1%
Sep-2015 5.1%
Oct-2015 5.0%
Nov-2015 5.0%
Dec-2015 5.0%
Jan-2016 4.9%
Feb-2016 4.9%
Mar-2016 5.0%
Apr-2016 5.0%
May-2016 4.7%
Jun-2016 4.9%
Jul-2016 4.9%
Aug-2016 4.9%
Sept-2016 4.9%
Oct-2016 4.8%
Nov-2016 4.6%
Dec-2016 4.7%
Jan-2017 4.8%
Feb-2017 4.7%
Mar-2017 4.5%
Apr-2017 4.4%
May-2017 4.3%
June-2017 4.4%
July-2017 4.3%
Aug-2017 4.4%
Sep-2017 4.2% 
ChartData Download data

The data below can be saved or copied directly into Excel.

Note: Shaded areas denote recessions.

Source: Bureau of Labor Statistics' Current Population Survey, public data series

Job changes by county, 2008 Q1–2017 Q1

Source: EPI analysis of QCEW employment data.

On average, racial and ethnic minorities have substantially worse labor market outcomes than white workers.: Unemployment rate of workers age 16 and older by race and ethnicity, 1997–2017

date White Black Hispanic
Jan-1997 4.5 10.8 8.4
Feb-1997 4.5 10.7 8.2
Mar-1997 4.4 10.5 8.3
Apr-1997 4.3 10.2 8.2
May-1997 4.1 10.3 7.7
Jun-1997 4.2 10.8 7.5
Jul-1997 4.2 9.5 7.9
Aug-1997 4.2 9.4 7.2
Sep-1997 4.2 9.5 7.4
Oct-1997 4.1 9.5 7.8
Nov-1997 3.9 9.5 7
Dec-1997 3.9 10 7.3
Jan-1998 4 9.4 7.1
Feb-1998 3.9 9.3 6.9
Mar-1998 4 9.2 6.9
Apr-1998 3.7 9.1 6.7
May-1998 3.8 8.9 6.9
Jun-1998 3.9 8.8 7.4
Jul-1998 3.8 9.5 7.3
Aug-1998 3.9 8.8 7.4
Sep-1998 3.9 9.1 7.3
Oct-1998 3.9 8.6 7.2
Nov-1998 3.8 8.6 7.1
Dec-1998 3.8 7.7 7.7
Jan-1999 3.8 7.8 6.7
Feb-1999 3.8 8.2 6.7
Mar-1999 3.6 8 5.8
Apr-1999 3.8 7.8 7
May-1999 3.7 7.4 6.7
Jun-1999 3.8 7.7 6.6
Jul-1999 3.7 8.7 6.5
Aug-1999 3.7 7.7 6.5
Sep-1999 3.6 8.5 6.7
Oct-1999 3.5 8.4 6.4
Nov-1999 3.5 8 6
Dec-1999 3.5 7.8 5.8
Jan-2000 3.4 8.2 5.6
Feb-2000 3.6 8.1 5.7
Mar-2000 3.5 7.4 6.1
Apr-2000 3.4 7 5.5
May-2000 3.5 7.7 5.8
Jun-2000 3.4 7.8 5.6
Jul-2000 3.5 7.7 5.8
Aug-2000 3.6 7.9 5.9
Sep-2000 3.5 7.3 5.8
Oct-2000 3.4 7.3 5.1
Nov-2000 3.5 7.3 6
Dec-2000 3.5 7.4 5.7
Jan-2001 3.6 8.2 5.8
Feb-2001 3.7 7.7 6.1
Mar-2001 3.7 8.3 6.2
Apr-2001 3.9 8 6.4
May-2001 3.8 7.9 6.3
Jun-2001 4 8.3 6.6
Jul-2001 4 8 6.2
Aug-2001 4.3 9.1 6.5
Sep-2001 4.3 8.9 6.7
Oct-2001 4.7 9.5 7.1
Nov-2001 4.9 9.8 7.3
Dec-2001 5.1 10.1 7.7
Jan-2002 5.1 10 7.8
Feb-2002 5 9.9 7
Mar-2002 5 10.5 7.5
Apr-2002 5.2 10.7 8
May-2002 5.1 10.2 7.1
Jun-2002 5.1 10.5 7.4
Jul-2002 5.2 9.8 7.4
Aug-2002 5.1 9.8 7.5
Sep-2002 5.1 9.7 7.4
Oct-2002 5.1 9.8 7.9
Nov-2002 5.1 10.7 7.8
Dec-2002 5.1 11.3 7.9
Jan-2003 5.2 10.5 7.9
Feb-2003 5.1 10.7 7.7
Mar-2003 5.1 10.3 7.8
Apr-2003 5.3 10.9 7.6
May-2003 5.4 10.9 8
Jun-2003 5.5 11.5 8.3
Jul-2003 5.4 10.9 8
Aug-2003 5.4 10.9 7.7
Sep-2003 5.3 11.1 7.3
Oct-2003 5.1 11.4 7.5
Nov-2003 5.2 10.2 7.4
Dec-2003 5 10.1 6.7
Jan-2004 5 10.4 7.3
Feb-2004 4.9 9.7 7.4
Mar-2004 5.1 10.3 7.6
Apr-2004 5 9.8 7.1
May-2004 4.9 10.1 6.9
Jun-2004 5 10.2 6.6
Jul-2004 4.7 11 6.8
Aug-2004 4.7 10.5 6.8
Sep-2004 4.6 10.3 6.8
Oct-2004 4.6 10.8 6.8
Nov-2004 4.6 10.7 6.7
Dec-2004 4.5 10.7 6.6
Jan-2005 4.5 10.6 6
Feb-2005 4.6 10.9 6.3
Mar-2005 4.5 10.5 5.8
Apr-2005 4.4 10.3 6.4
May-2005 4.4 10.1 6
Jun-2005 4.3 10.2 5.7
Jul-2005 4.2 9.2 5.5
Aug-2005 4.2 9.7 5.8
Sep-2005 4.4 9.4 6.4
Oct-2005 4.4 9.1 6
Nov-2005 4.3 10.6 6.1
Dec-2005 4.2 9.2 6.1
Jan-2006 4.1 8.9 5.5
Feb-2006 4.1 9.5 5.4
Mar-2006 4 9.5 5.2
Apr-2006 4.1 9.4 5.5
May-2006 4.1 8.7 5
Jun-2006 4.1 8.9 5.2
Jul-2006 4.1 9.5 5.2
Aug-2006 4.1 8.8 5.3
Sep-2006 3.9 9 5.5
Oct-2006 3.9 8.4 4.8
Nov-2006 4 8.5 5.1
Dec-2006 3.9 8.3 5
Jan-2007 4.2 7.9 5.5
Feb-2007 4.1 8 5.1
Mar-2007 3.8 8.4 5
Apr-2007 4 8.3 5.6
May-2007 3.9 8.3 5.8
Jun-2007 4.1 8.5 5.5
Jul-2007 4.2 8.1 5.9
Aug-2007 4.2 7.6 5.5
Sep-2007 4.2 8 5.9
Oct-2007 4.1 8.5 5.7
Nov-2007 4.2 8.5 5.9
Dec-2007 4.4 9 6.3
Jan-2008 4.4 9.1 6.3
Feb-2008 4.4 8.4 6.2
Mar-2008 4.5 9.2 6.9
Apr-2008 4.4 8.6 7.1
May-2008 4.8 9.6 6.9
Jun-2008 5 9.4 7.6
Jul-2008 5.2 10 7.5
Aug-2008 5.4 10.6 8
Sep-2008 5.4 11.3 8
Oct-2008 5.9 11.4 8.8
Nov-2008 6.2 11.5 8.7
Dec-2008 6.7 12.1 9.4
Jan-2009 7.1 12.7 10.1
Feb-2009 7.6 13.7 11.3
Mar-2009 8 13.7 11.7
Apr-2009 8.1 15 11.4
May-2009 8.5 15 12.3
Jun-2009 8.7 14.8 12.1
Jul-2009 8.7 14.8 12.5
Aug-2009 8.9 14.8 13
Sep-2009 8.9 15.3 12.6
Oct-2009 9.2 15.8 12.8
Nov-2009 9.2 15.7 12.4
Dec-2009 9 16.1 12.8
Jan-2010 8.8 16.5 12.9
Feb-2010 8.9 16.1 12.7
Mar-2010 8.9 16.8 12.9
Apr-2010 9 16.6 12.5
May-2010 8.7 15.5 12
Jun-2010 8.6 15.2 12.3
Jul-2010 8.5 15.6 12.2
Aug-2010 8.6 15.9 12
Sep-2010 8.6 16 12.3
Oct-2010 8.6 15.6 12.3
Nov-2010 8.9 16.2 12.9
Dec-2010 8.5 15.5 12.9
Jan-2011 8.1 15.8 12.3
Feb-2011 8.1 15.5 11.8
Mar-2011 8 15.8 11.6
Apr-2011 8.1 16.5 11.9
May-2011 7.9 16.3 11.6
Jun-2011 8.1 16.2 11.5
Jul-2011 8 15.9 11.2
Aug-2011 7.9 16.4 11.2
Sep-2011 7.9 15.9 11.2
Oct-2011 7.9 14.6 11.3
Nov-2011 7.7 15.6 11.2
Dec-2011 7.5 15.4 11.1
Jan-2012 7.4 13.6 10.7
Feb-2012 7.4 14 10.9
Mar-2012 7.3 14 10.6
Apr-2012 7.4 13.3 10.3
May-2012 7.4 13.5 10.9
Jun-2012 7.3 14.5 10.9
Jul-2012 7.3 14.2 10.2
Aug-2012 7.2 13.8 10.1
Sep-2012 7 13.6 9.7
Oct-2012 6.9 14.1 10
Nov-2012 6.8 13.3 9.9
Dec-2012 6.9 14 9.6
Jan-2013 7.1 13.7 9.7
Feb-2013 6.8 13.9 9.8
Mar-2013 6.7 13 9.3
Apr-2013 6.7 13.2 9
May-2013 6.7 13.4 9
Jun-2013 6.6 14 9
Jul-2013 6.5 12.6 9.4
Aug-2013 6.4 12.8 9.3
Sep-2013 6.3 13.1 8.8
Oct-2013 6.3 12.9 9.1
Nov-2013 6.1 12.4 8.7
Dec-2013 6 11.9 8.4
Jan-2014 5.7 12.1 8.3
Feb-2014 5.8 11.9 8.2
Mar-2014 5.8 12.1 7.9
Apr-2014 5.3 11.5 7.3
May-2014 5.4 11.4 7.7
Jun-2014 5.3 10.9 7.6
Jul-2014 5.3 11.6 7.7
Aug-2014 5.3 11.4 7.5
Sep-2014 5.1 11 6.8
Oct-2014 4.8 10.8 6.8
Nov-2014 4.9 11 6.6
Dec-2014 4.8 10.5 6.4
Jan-2015 4.9 10.3 6.8
Feb-2015 4.8 10.3 6.8
Mar-2015 4.7 9.9 6.8
Apr-2015 4.7 9.6 6.8
May-2015 4.7 10.2 6.8
Jun-2015 4.6 9.6 6.7
Jul-2015 4.6 9.1 6.9
Aug-2015 4.4 9.4 6.7
Sep-2015 4.3 9.2 6.2
Oct-2015 4.3 9.1 6.3
Nov-2015 4.3 9.4 6.4
Dec-2015 4.5 8.4 6.2
Jan-2016 4.3 8.8 5.9
Feb-2016 4.3 8.8 5.5
Mar-2016 4.3 8.9 5.6
Apr-2016 4.3 8.8 6.1
May-2016 4.1 8.2 5.6
Jun-2016 4.4 8.6 5.8
Jul-2016 4.3 8.4 5.4
Aug-2016 4.4 8.1 5.7
Sep-2016 4.4 8.3 6.4
Oct-2016 4.3 8.6 5.7
Nov-2016 4.2 8 5.7
Dec-2016 4.3 7.8 5.9
Jan-2017 4.3 7.7 5.9
Feb-2017 4.1 8.1 5.6
Mar-2017 3.9 8 5.1
Apr-2017 3.8 7.9 5.2
May-2017 3.7 7.5 5.2
Jun-2017 3.8 7.1 4.8
Jul-2017 3.8 7.4 5.1
Aug-2017 3.9 7.7 5.2
Sep-2017 3.7 7.0 5.1
ChartData Download data

The data below can be saved or copied directly into Excel.

Source: Bureau of Labor Statistics' Current Population Survey public data series

The typical worker earns $18.04 per hour.: Median hourly wage, 1973–2017

Date Median hourly wage
1973 16.74
1974 16.37
1975 16.26
1976 16.36
1977 16.28
1978 16.57
1979 16.36
1980 16.28
1981 15.85
1982 15.95
1983 15.91
1984 15.91
1985 16
1986 16.47
1987 16.32
1988 16.31
1989 16.26
1990 16.05
1991 16.14
1992 16.19
1993 16.26
1994 16
1995 15.78
1996 15.85
1997 16.25
1998 16.7
1999 17.19
2000 17.04
2001 17.49
2002 17.49
2003 17.78
2004 17.77
2005 17.62
2006 17.73
2007 17.43
2008 17.52
2009 17.87
2010 17.62
2011 17.14
2012 17.04
2013 17.17
2014 17.11
2015 17.33
2016 17.86
2017 $18.04
ChartData Download data

The data below can be saved or copied directly into Excel.

Source: EPI analysis of Current Population Survey Outgoing Rotation Group microdata.

10

The typical family has a net worth of $97,300.: Wealth for families at the median, 1989-2016, 2016 dollars

Date Median
1989 $87,500
1992 83,100
1995 90,600
1998 105,800
2001 117,300
2004 118,400
2007 139,700
2010 85,400
2013 83,700
2016 $97,300
ChartData Download data

The data below can be saved or copied directly into Excel.

Notes: The Survey of Consumer Finances is conducted every three years.

Source: EPI analysis of Survey of Consumer Finances data.

Racial and ethnic minorities have worse labor market outcomes than white workers.: Wealth for families at the median, 1989-2016, 2016 dollars

White non-Hispanic Black or African-American non-hispanic Hispanic or Latino
1989 132,700 7,400 9,700
1992 116,900 16,600 11,400
1995 120,000 17,100 19,000
1998 141,400 22,900 14,500
2001 166,300 26,300 15,500
2004 179,300 26,000 19,400
2007 198,300 24,400 24,400
2010 144,300 17,600 17,900
2013 146,400 13,600 14,200
2016 $171,000  $17,100  $20,600 
ChartData Download data

The data below can be saved or copied directly into Excel.

Notes: The Survey of Consumer Finances is conducted every three years.

Source: EPI analysis of Survey of Consumer Finances  data.

Thank you!

Economic Policy Institute: epi.org

 

Link to presentation: http://epi86dev.wpengine.com/document/presentation-the-national-context/