Table 9.1 Economic Growth, Unemployment and Inflation Rates, 1959–2003

Year

Annual percentage change in real GDP

Annual unemployment rate (percent)

Annual percentage change in consumer price index

1959 7.1 5.5 0.7 1960 2.5 5.5 1.7 1961 2.3 6.7 1.0 1962 6.1 5.5 1.0 1963 4.4 5.7 1.3 1964 5.8 5.2 1.3 1965 6.4 4.5 1.6 1966 6.5 3.8 2.9 1967 2.5 3.8 3.1 1968 4.8 3.6 4.2 1969 3.1 3.5 5.5 1970 0.2 4.9 5.7 1971 3.4 5.9 4.4 1972 5.3 5.6 3.2 1973 5.8 4.9 6.2 1974 -0.5 5.6 11.0 1975 -0.2 8.5 9.1 1976 5.3 7.7 5.8 1977 4.6 7.1 6.5 1978 5.6 6.1 7.6 1979 3.2 5.8 11.3 1980 -0.2 7.1 13.5 1981 2.5 7.6 10.3 1982 -1.9 9.7 6.2 1983 4.5 9.6 3.2 1984 7.2 7.5 4.3 1985 4.1 7.2 3.6 1986 3.5 7.0 1.9 1987 3.4 6.2 3.6 1988 4.1 5.5 4.1 1989 3.5 5.3 4.8 1990 1.9 5.6 5.4 1991 -0.2 6.8 4.2 1992 3.3 7.5 3.0 1993 2.7 6.9 3.0 1994 4.0 6.1 2.6 1995 2.5 5.6 2.8 1996 3.7 5.4 3.0 1997 4.5 4.9 2.3 1998 4.2 4.5 1.6 1999 4.5 4.2 2.2 2000 3.7 4.0 3.4 2001 0.8 4.7 2.8 2002 1.9 5.8 1.6 2003 3.0 6.0 2.3

Source: Bureau of Economic Analysis, Economic Report of the President, 2004 and authors’ calculations.

Table 9.2 Trend in Real GDP per Capita and Productivity (annual rates) 

Growth Growthin real GDP in outputper capita per worker hour

Year (%) (%)

1960–1973 2.9 3.1

1973–1995 1.9 1.6

1995–2000 2.6 2.2

2001-2003 0.9 3.9

 Source: Bureau of Economic Analysis and Census Bureau. Calculations are by the author. 

Table 9.3 Average Annual Changes in GDP per Capita 

Changein real GDPper capita

Year (%)

1950–1959 2.3

1960–1969 3.1

1970–1979 2.2

1980–1989 2.1

1990–1999 1.9 Entire Period: 1950-1999 2.3 Source: Bureau of Economic Analysis and Census Bureau. Calculations are by the author.