The Lost Decade – for employment and net worth…..
by Tom on January 4, 2010
in Market Musings
A couple of interesting points to the graph that the Washington Post put together:
- GDP was up by 17% in the 2000’s. That’s good, but a far cry from the numbers that the 60’s, 70’s, 80’s, and 90’s did. By the way, GDP stands for Gross Domestic Product and it’s basically a measure of how much is “created” by our economy.
- Job growth in the entire decade is at 0. That means that we’ve seen no net job growth in the last 10 years. I know that the state that I live in has seen a negative job growth in the last 10 years.
- The household net worth (when adjusted for inflation) is negative for the first time since the 1960s.
So, if you look at your own situation and say, “It’s been a tough decade,” I think it’s safe to say that you aren’t alone.
Tom Vanderwell
Technorati Tags: Lost Decade, Job Creation
