President’s Outreach. Dr. James R. Ramsey President, University of Louisville. October 25, 2010. We do know where Prestonsburg is! Thanks for being here. 2. Economists like pictures and graphs Some dots and a triangle…. 3. 4. Heck, I’m an economist so let’s talk about the economy.
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Dr. James R. Ramsey
President, University of Louisville
October 25, 2010
Thanks for being here.
Some dots and a triangle…
so let’s talk about
have been unprecedented
* Lowest level during the current recession. The next two quarters (2009: III and IV) have been positive.
Sources: NBER, BEA, and BLS.
Accelerated growth first half of the year. Inventory build up
Consumer is saving – long term a good thing
Business also cautious - cost containment – not adding workers
Slow/very slow recovery
National Economic Thoughts
I always start with employment in the state:
People working = income
- state income taxes
- sales tax
Sales/Income => 70% of state’s general fund
Nonfarm employment in thousands
Manufacturing – Our Bread and Butter
(We are in this together)
Per Capita Income in All 50 States v. Adults with Bachelors Degrees or Higher Data for 2007
Defined benefit programs
To Close on a Good NoteCPE/LEGISLATIVE RESEARCH COMMISSION RESPONSE TO DATA REQUESTSEPTEMBER 1, 2010