Economists, Reporters Discuss the Most Important Economic Stories of 2013
The Atlantic asked 41 reporters and economists from across the U.S. what the most important economic story of 2013 was according to data and graphs. Here’s Heidi Moore:
Here’s why I love this chart: it nails the issue with the inequality at the center of our economy right now. Corporate profits are our only consistently rising metric of economic success. Everything else that matters is bumping along the bottom. Job openings have only modest gains, and nowhere near what we had before the crash. Personal income is stagnant. Unemployment is still absurdly high. That leads to the policy question: is it our goal as a country to fuel only corporate profits? Or do we have some other responsibility to the citizenry?
And here’s Eddy Elfenbein from Crossing Wall Street:
Here’s the Medicals Costs portion of the CPI divided by the Core CPI. This trend has been rising for decades, but it’s slowed down recently. It’s still too early to call is a trend. But obviously, if healthcare inflation soon becomes like regular inflation, then it’s a game changer.
There’s a lot more and a lot of interesting data to think about here, but basically, the labor market has not been great, but the stock market and corporate profits did well in 2013.