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Comparing GDP, Employment to 2007

Summary:
For my macro lectures next week: Figure 1: Nonfarm payroll employment, in logs, normalized 2020M02=0 (blue), lagged and normalized 2007M12=0 (red). Source: BLS. Figure 2: Real GDP, in logs, normalized to 2019Q4=0 (blue), Goldman Sachs 3/31 forecast (teal triangles), lagged and normalized to 2007Q4=0 (red). Source: BEA and Goldman Sachs.

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For my macro lectures next week:

Comparing GDP, Employment to 2007

Figure 1: Nonfarm payroll employment, in logs, normalized 2020M02=0 (blue), lagged and normalized 2007M12=0 (red). Source: BLS.

Comparing GDP, Employment to 2007

Figure 2: Real GDP, in logs, normalized to 2019Q4=0 (blue), Goldman Sachs 3/31 forecast (teal triangles), lagged and normalized to 2007Q4=0 (red). Source: BEA and Goldman Sachs.

Menzie Chinn
He is Professor of Public Affairs and Economics at the University of Wisconsin, Madison

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