Cornelia J. Strawser - Business Statistics of the United States 2009: Patterns of Economic Change, 14th Edition

Preface:

Business Statistics of the United States: Patterns of Economic Change, 14th Edition, 2009 is a basic desk reference for anyone requiring statistics on the U.S. economy. It contains about 3,500 economic time series in all, portraying the period since World War II in comprehensive detail, and, in the case of about 200 key series, the period from 1929 through 1948 as well. The data are predominantly from federal government sources. Of equal importance are the extensive background notes for each chapter, which help users to understand the data, use them appropriately, and, if desired, seek additional information from the source agencies.

THE 2009 EDITION

Compiled in the midst of a dramatic downturn in the United States economy, the 14th edition of Business Statistics provides an abundance of data enabling the user to understand the background of recent developments and compare today’s economy with past history, going all the way back to 1929. Two more years’ worth of current data have been added, bringing most series up to date through the end of 2008, while incorporating all data revisions made as of spring 2009 and maintaining a complete historical record back to the 1940s or before for the most important series. New features in this edition include:

• An expanded series of graphs, Figures 18-1 through 18-5, depicting the U.S. economy from 1929 through 1948. Currently there is much public discourse about the policies pursued during the “Great Depression” and World War II and their effects, but surprisingly little understanding of the actual course of the economy. The term “Great Depression” does not even have a specific economic definition. These graphs of employment, unemployment, output, price change, interest rates, money, and credit should provide new insight into the history of the period and its similarities to, and differences from, the U.S. economy today.

• A new series in Table 12-3 showing total Federal Reserve asset holdings, the “Fed’s balance sheet,” which expanded to a startling degree in 2008 as the monetary authority used new tools to maintain and expand theflow of credit.

• Three broader measures of labor underutilization calculated by the Bureau of Labor Statistics, which have been added to Table 10-5, Unemployment Rates and Related Data. One of the new measures adds discouraged workers to the unemployment count, a second adds other “marginally attached” workers to unemployment, and a third includes the “underemployed” who want to work full-time but can only find part-time work. These measures are available back to 1994.