Are You Better Off Now Than You Were Eight Years Ago?

The Centre for Economic and Policy Research (CEPR) recently asked the same question that Ronald Reagan had asked the American people during the final presidential debate of 1980: "Are you better off now than you were four years ago?"

They used 25 indicators of economic well-being and economic performance and found out that 23 of the 25 indicators are worse in 2008 than they were in 2000!..

...lo and behold the answers:

Economic Indicator	2000	2008
Unemployment rate	4.0%	6.1%
Inflation rate	3.3%	5.4%
Job Growth (preceding 8 years)
Total nonfarm employment	21.4%	4.3%
Private sector employment	23.6%	3.6%
Manufacturing employment	2.9%	-22.2%
Employment rate (% of population)
All, age 16 and older	64.4%	62.6%
Men, age 16 and older	71.9%	69.1%
Women, age 16 and older	57.5%	56.5%
Real wage growth (preceding 8 years)	8.2%	1.8%
Minimum wage (July 2008$)	$6.58	$6.55
Family income
Median, 2007$	$61,083	$61,355
Growth (preceding 8 years)	14.7%	0.4%
Poverty
Rate (% of population)	11.3%	12.5%
People in poverty (millions)	31.6	37.3
Uninsured (health insurance)
Rate (% of population)	14.0%	15.3%
People without insurance (millions)	38.7	45.7
Personal savings (% of disposable income)	2.3%	0.6%
College tuition (average per year, 2007$)
Private four-year college	$19,337	$23,712
Public four-year college	$4,221	$6,185
Gasoline (gallon, 2008$)	$2.03	$4.09
GDP growth (preceding 8 years)	34.2%	19.6%
Productivity growth (preceding 8 years)	15.9%	21.9%
Trade balance (% of GDP)	-3.9%	-5.1%
Federal debt (% of GDP)	57.3%	65.5%
Net foreign debt (% of GDP)	13.6%	17.9%