"Summer/Fall 2013 Economic Update" webinar slides presented September 12, 2013, by Kenneth Hunter on behalf of American Society for Public Administration (ASPA)
Summer/Fall 2013Economic OverviewPresented ByKenneth Hunter, MPAABFM Executive CommitteeEditor, Line ItemSeptember 12, 2013
Evaluating the Economy
3Sources for Information
The market certainly recovered!
Wheres the Wealth?14
Are Markets Stressed?
Treasury Yields Ticking UpwardDollars Position Helping Exports
Housing Market Slowly Recovering
Mortgage Rates Climbing
Energy Costs Trending Upward
Where do we stand on volatility?
Crude OilGoldS&P 500How are Individuals Doing?
Unemployment Claims DOWN!
Hiring Resumed (Sort Of)Hiring Resumed (Sort Of)
The Biggest Shift of All!Discouragement Still a BIG Issue!
Earnings are Improving
Saez, Emmanuel. Striking it Richer: The Evolution of Top Incomes in the United States (Updated with 2012 preliminary estimates). http://elsa.berkeley.edu/~saez/saez-UStopincomes-2012.pdf (September 3, 2013)Its Been a TOUGH Recession!
Gasoline Prices in PerspectiveWhat It Means for Government
35Federal Debt Keeps Growing!
36Hows the Fed Helping?
State & Local Condition BetterLocal Pensions are Underfunded
39Local Pensions are Underfunded
41OutlookUS GDP Growth2.3% annualized rate for 3rd Quarter1.9% growth for 2013 (down from earlier 2.4%)3.0% growth in 2014
Probability of Feds Taper~45% during rest of 2013~80% in 2014
Thank You!Kenneth HunterKenneth.Hunter@nclgba.org