What is going on with the economy...

4. Measurements
• 1976 Growth Act
– Employment
– Inflation

5. Employment
• Recovery?

6. Job Creation
• Unimpressive…

7. Jobs Gap
• Missing 8M…

8. Participation
• 30 year low…

9. Missing
• Where are they?

10. Missing
• Where are they?

11. Missing
• Not In Retirement

12. U6 Rate
• 9.2%...

13. Recovery
• Need faster growth…

14. Nominal Wage
• Below target…

15. Labor Productivity
• Flat…

16. Measurements
• Growth
– Employment: C+
• Missing workers
• Low wage gains
– Inflation

17. Inflation
• Disinflationary

18. Inflation
• Core Stable

19. Debt
• Record Levels

20. Debt Level
• Increasing

21. Negative Rates
• Unchartered

22. Measurements
• Growth
– Employment: C+
• Missing workers
• Low wage gains
– Inflation: C-
• Disinflation
• Low wage gains

23. Growth
• Okay but…

24. Real Growth
• Not catching up…

25. Growth Rate
• Slowed…

27. Personal Expenditure
• What’s going on…

28. Wage Gains
• Stagnant

29. Measurements
• Growth – C+
– Employment
– Inflation