INCOMES >>> INFLATION =Thurs/Friday PAYDAY RALLY#2 following Relief Rally yesterday (which was fast and to the point), just because it paused today (3rd day/settlement day/profit taking for some) don't lose sight of the future....you can say you saw it here first.....thats what Crystal Ball is all about.....
Fom InfoBeat:
12:14 PM ET 05/17/00
Incomes Rise Faster Than Inflation
By JEANNINE AVERSA=
Associated Press Writer=
WASHINGTON (AP) _ The healthy U.S. economy lifted incomes faster
than inflation in every state last year, with residents of Wyoming
enjoying the fastest growth, the government reported Wednesday.
``Basically, it's entirely a function of this exorbitant job
growth we've seen,'' said economist Richard Yamarone of Argus
Research Corp.
Nationally, average income for America's 272.7 million people
last year was $28,518, up 4.8 percent from 1998, the Commerce
Department said Wednesday. The figures include not only wages and
salaries but also other sources of income, such as investment
earnings and government benefits.
Per capita income growth last year was actually a bit slower
than the 4.9 percent increase in 1998.
``We don't consider the small decline to be at all worrisome,''
Yamarone said. ``The figure is still extremely solid. We can expect
consumers to spend their share of that increase and promote the
economic expansion.''
The inflation rate, as measured by the government's price index
for personal consumption expenditures, increased to 1.6 percent in
1999. Factoring that in, Americans' buying power _ per capita
income growth after inflation _ jumped 3.2 percent.
The record-breaking economy, now in its longest-ever streak of
uninterrupted growth, has pulled that unemployment rate down to a
30-year-low of 3.9 percent in April.
With plentiful jobs, rising incomes, stock market gains and low
inflation Amercians have been in the buying mood, thus fueling the
U.S. economy's red-hot growth. Consumer spending accounts for
two-thirds of all economic activity.
By state, per capita incomes in 1999 ranged from $39,167 in
Connecticut to $20,506 in Mississippi. Growth rates in per capita
income ranged from 7 percent in Wyoming to 2.5 percent in Alaska.
After Wyoming, the states with the fastest per capita income
growth rates were Massachusetts, 6.7 percent; and Maine and Idaho,
with 6.2 percent each.
In general, increased earnings from service-sector jobs,
especially in finance, insurance and real estate were the big
forces behind high per capita income growth in those states.
Besides Alaska, other states with relatively slow per capita
income growth last year included Louisiana, 2.6 percent; North
Dakota, 2.7 percent; and West Virginia, 3.5 percent.
Weaker earnings from jobs in mining, construction,
transportation and at public utilities contributed to those states'
slower per capital income growth.
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On the Net: bea.doc.gov
<you wrote: "Me thinks you need a new Crystal Ball.
<quoting my prior post:
< """CSCO hit $63, Its a absolute MUST HAVE BUY under $85 all the way. Watch Monday last minute
bargain buying fever, then a pause Tuesday, then a BIG RELIEF RALLY after the FED comes in, no
matter what the numbers are, the sideline money has been piling up, and we will see huge positive
cash flows into the market. MONEY IS CREATED BUT NEVER DESTROYED...it is always
"somewhere" and now it is waiting to come "here" into the market, especially into bluest chip quality
< internets like CSCO.">>>
I STAY BY THIS PREDICTION, the next 3 days will tell,
as CNBC says, Wake up Make Money,
I am,
Truly your$,
-Crystal Ball |
