As we near the first day of autumn (on September 23rd), we thought we’d take the opportunity to reflect – both on the events of these past few months as well as a few “fun facts” about our economy in general. Some of these may surprise you!
HOW DID YOUR SUMMER STACK UP?
The S&P 500 © was down 8.9% (total return) for the 3 summer months of June-July-August 2011. The stock index has been negative on a total return basis during the 3 summer months in 4 of the last 5 years. The S&P 500 is an unmanaged index of 500 widely held stocks that is generally considered representative of the US stock market.
(Source: Behind the Numbers Research. 2011. www.behindthenumbers.com)
THE S&P PERFORMANCE BY MONTH
The S&P 500 has been negative on a total return basis during 4 of the 8 months YTD through 8/31/11. No calendar year has had more than 4 down months since 2008 when 8 of the 12 months were negative.
(Source: Behind the Numbers Research. 2011. www.behindthenumbers.com)
WHO ARE THE REAL GIANTS?
5 of the 10 largest corporations in the USA (based upon 2010 sales) are involved either in the auto industry or the oil industry.
(Source: Fortune Magazine.www.fortune.com)
ROAD TRIP, ANYONE?
The national average price of a gallon of gasoline finished last month (8/31/11) at $3.617 a gallon – a drop of 16.3 cents a gallon during the 3 summer months of June, July and August.
(Source: AAA. 2011. www.aaa.com)
PAYING AT THE PUMP
Since every 1 cent decrease in the price of gasoline saves Americans $3.4 million a day, the 16.3 cents a gallon decrease during the 3 summer months of 2011 is equal to a daily gas expenditure decrease of $55.4 million for U.S. consumers as of 9/01/11 when compared to 6/01/11.
(Source: AAA. 2011. www.aaa.com)
REAL ESTATE – The average single-family home nationwide peaked in value on 6/30/07 but has dropped by 19% from that maximum value as of 6/30/11.
(Source: Office of Federal Housing Enterprise Oversight. 2011. www.fhfa.gov)
AN EXPENSIVE LITTLE BUNDLE OF JOY
A family with before-tax income of at least $100,000 that had a newborn in 2010 will spend $377,000 (in 2010 dollars) to raise that child through age 17 (i.e., not including the cost of college). After including the impact of inflation, the 17-year cost rises to $477,000.
(Source: U.S. Department of Agriculture. 2011. www.usda.gov)
UNEMPLOYMENT STATS
The unemployment rate in the USA as of 8/31/11 was 9.1%. The last time the national unemployment rate was less than 7% was 11/30/08. The highest unemployment rate ever in the country was 24.9% in 1933.
(Source: U.S. Department of Labor. 2011. www.dol.gov)
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