By using an inflation calculator on the Bureau of Labor Statistics website, I found that $1.00 in 1984 is equivalent to $2.11 in 2008. This means that in the last 24 years the price of items due to inflation has more than doubled.
Another website I found gives income levels for 1967-2007, dividing into highest, lowest, etc.
I made this chart with the help of a website. I put in that I wanted to know how much women and girls spend annually on apparel products. It gives information from 1984 to 2006. There is also a table on the website you should check out because the numbers are easier to read.*The Y axis refers to dollars.
From the New York Times' website I learned that there was an economic boost in 1984 partly due to Ronald Reagan's tax cuts and fight against inflation. There was a high level of unemployment though, 7.5%. The consumer confidence level was in the 100's, a good turn around from 1982 when levels were in the 50's. This means that in 1984 the economic status of the country was good enough that consumers would spend more money on unnecessary items such as retail.
References:
http://www.bls.gov/tus/current/purchasing.htm
http://www.bls.gov/data/inflation_calculator.htm
http://www.census.gov/hhes/www/income/histinc/h01AR.html
http://data.bls.gov/cgi-bin/dbdown?Your+request+was+invalid+for+this+Data+Access+Service.+Please+attempt+other+data+requests.+Thank+you+for+using+LABSTAT.
http://query.nytimes.com/search/sitesearch?query=1984+economics&srchst=cse
http://www.econstats.com/rt_cconf.htm
1 comment:
Aubry - I applaud your creative thinking! good job in using the data in ways that relate to the project. My only advice at this point is see if you could label the Y axis in dollars (?) I am guessing that's what you mean if the X axis reflects the years?
Good job and keeping up the good work!
M.
Post a Comment