Indc 2011

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Indc 2011

  1. 1. State of the Economy Ryan Herzog, Ph.D. Assistant Professor of Economics Gonzaga University 9/28/2011 Prepared for INDC
  2. 2. Outline• State of the National Economy – GDP – Unemployment – Inflation (Monetary Policy)• Local Economy (State and Spokane) – GSP – Unemployment – Continuing Issues
  3. 3. State of the Economy
  4. 4. National Output
  5. 5. National Unemployment
  6. 6. Unemployment
  7. 7. Manufacturing and the Labor Force
  8. 8. Structural Concerns
  9. 9. Jobs• The recession has simply magnified and sped up job losses in the manufacturing sectors. – The construction industry provided alternative employment.• We need to focus on retraining 5 million workers.• Extending unemployment compensation does not address the structural problems in the manufacturing industry. – Workers are searching for jobs that do not exist or will not exist in the near future.
  10. 10. Inflation Rates
  11. 11. Short and Long-term Interest Rates
  12. 12. Investment
  13. 13. Conclusion on the National Economy
  14. 14. State Unemployment
  15. 15. State Unemployment
  16. 16. Spokane Unemployment
  17. 17. Washington and Spokane Income
  18. 18. Foreclosure Rates
  19. 19. Washington State Housing Foreclosure Rates (First Lien) March 2011 December 2010 September 2010 June 2010 March 2010Spokane 3.2 3.2 3.1 2.9 2.4Seattle/Tacoma 4.1 4.0 3.7 3.1 2.8Portland/Vancouver 4.1 4.7 3.7 3.5 3.4Yakima 4.3 4.3 4.2 3.8 3.5Olympia 3.6 3.5 3.3 2.8 2.4Wenatchee 2.6 2.7 2.3 2.0 1.8Tri Cities 2.1 2.2 2.2 2.0 1.9Coeur dAlene 3.8 4.0 3.8 3.8 3.5Lewiston, ID 2.6 2.9 2.5 2.1 2.2 90+ Days - Delinquency Rates (First Lien) March 2011 December 2010 September 2010 June 2010 March 2010Spokane 3.2 3.1 3.2 3.5 3.7Seattle/Tacoma 4.3 4.3 4.3 4.8 5.0Portland/Vancouver 3.2 3.4 3.2 3.6 3.8Yakima 3.2 3.3 3.8 3.9 4.0Olympia 3.5 3.6 3.7 4.0 4.3Wenatchee 2.6 2.6 2.8 2.9 3.1Tri Cities 2.0 2.1 2.3 2.7 3.0Coeur dAlene 2.7 2.5 2.6 3.0 3.6Lewiston, ID 2.1 2.0 2.5 2.6 3.1*Source www.foreclosure-response.org (Center for Housing Policy)
  20. 20. Disclaimer

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