Anonymous pointed out that my industrial production chart looked a lot like my Real GDP chart. It does!
Here's a new version that breaks the growth into two distinct periods (or even three depending on how you look at it).
Click to enlarge.
If the 1973 oil crisis permanently helped knock 1.8% off of our long-term industrial production growth, then one wonders if the 2008 oil crisis permanently helped knock off another 1.8%.
Put another way, who honestly thinks that we will return to the blue trend line?
Source Data:
St. Louis Fed: Industrial Production Index
Trends in Educational Attainment in the U.S. Labor Force
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The first graph shows the unemployment rate by four levels of education
(all groups are 25 years and older) through April 2024. Note: This is an
update to ...
11 hours ago
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