Economy: What are the most important indicators?

[ArmHayseed]

My thoughts jump to GDP, job creation, unemployment and inflation.

Are there any other indicators that effect the general population to the same degree?

I am gathering the history of these indicators in order to compare the performance of the economy under the various presidents.

[InsultComicDog]

1. The most important indicators

...are my bank account and whether I have a job :evilgrin:

[AllegroRondo]

2. Median wage, and purchasing power of it

The median wage is a good indication that wages as a whole are going up or down (in case you're wondering, its been falling for the last 4 years.) Especially compared to average wage - which has gone up. It basically means that those with the highest wages are earning more, while there are more at the lower end earning less.

And purchasing power - how much you can buy with that wage compared to inflation. Its down also.

[RufusEarl]

3. Energy cost

[BillZBubb]

4. The indicators you select are the common ones, BUT...

they are all subject to manipulation. Job creation and unemployment are notoriously so. If you must use unemployment, be sure not to use the most common series that omits "discouraged workers". Use the full series that includes everyone.

I would use real wages--median real wages. They show how the middle class is really doing after inflation.

[Odin2005]

5. Wages, consumer purchasing power, unemployment rate, average debt/person

I find it maddening that economists seem to concentrate on business profits when talking about our supposedly roaring economy. :mad:

GDP is a crap indicator, if wages are stagnant at the same time corporate profits go up, GDP stil, increases.