Graph of the Day for April 24, 2010

Randall Hoven
"And when it comes to domestic policy, I have no more important a job as President than seeing to it that every American who wants to work and is able to work can find a job -- and a job that pays a living wage.  (Applause.)  That was my focus last year and that is my focus this year:  to lay a foundation for economic growth that will create jobs, that raises incomes, that will foster a secure economic future for middle class families."  President Obama, March 2, 2010.

Average Hourly Earnings Over Last Year, Manufacturing



Average Hourly Earnings Over Last Year, Total Private Sector


Source:  St. Louis Fed, AHEMAN and AHETPI series.


Hoven's Index for April 24, 2010


Annualized growth rate of average hourly earnings:

Over Bush's terms (Jan 2001 to Jan 2009):  +3.2%/yr

Over Bush's last year (Jan 2008 to Jan 2009):  +3.8%/yr

Over Obama's first year (Jan 2009 to Jan 2010):  +2.6%/yr

Over last two months (Jan 2010 to Mar 2010):  0.0%/yr

Over last month:  -1.3%/yr 

Source:  St. Louis Fed, AHETPI series.


Graph of the Day Archive.

"And when it comes to domestic policy, I have no more important a job as President than seeing to it that every American who wants to work and is able to work can find a job -- and a job that pays a living wage.  (Applause.)  That was my focus last year and that is my focus this year:  to lay a foundation for economic growth that will create jobs, that raises incomes, that will foster a secure economic future for middle class families."  President Obama, March 2, 2010.

Average Hourly Earnings Over Last Year, Manufacturing



Average Hourly Earnings Over Last Year, Total Private Sector


Source:  St. Louis Fed, AHEMAN and AHETPI series.


Hoven's Index for April 24, 2010


Annualized growth rate of average hourly earnings:

Over Bush's terms (Jan 2001 to Jan 2009):  +3.2%/yr

Over Bush's last year (Jan 2008 to Jan 2009):  +3.8%/yr

Over Obama's first year (Jan 2009 to Jan 2010):  +2.6%/yr

Over last two months (Jan 2010 to Mar 2010):  0.0%/yr

Over last month:  -1.3%/yr 

Source:  St. Louis Fed, AHETPI series.


Graph of the Day Archive.