ARG Financial Salary Guide 2023

Key Economic Data

Unemployment Rate

2017 4.1% 3.5% 4.7%

2018 3.9% 2.7% 4.6%

2019 3.5% 2.4% 4.0%

2020 6.7% 2.8% 11.0%

2021 5.7% 3.7% 5.6%

2022 est.

National

3.7% 2.8% 5.2%

Orange County

LA County

Labor Force Participation Rate 2017

2018 63.1% 62.4%

2019 63.2% 62.8%

2020 61.5% 60.1%

2021 61.9% 61.1%

2022 est.

National California

62.7% 62.9%

62.4% 62.4%

Real GDP

2017

2018

2019

2020

2021

2022 est.

Real GDP - Billions $

$18,224

$18,752 $19,090 $18,385 $19,427 $19,700

Real GDP - Annual % Change

2.5%

2.9%

1.8%

-3.7%

5.7%

1.4%

Inflation Measures

2017 2.1%

2018 1.9%

2019 2.3%

2020 1.9%

2021 3.4%

2022 est.

CPI - Annual % Change

7.2%

Interest Rates

2017 1.50% 4.50% 2.58% 4.00%

2018 2.00% 5.50% 2.69% 4.55%

2019 1.55% 4.75% 1.92% 3.73%

2020 0.08% 3.25% 0.93% 2.67%

2021 0.10% 3.25% 1.45% 2.96%

2022 est.

Federal Funds Rate

3.00% 5.50% 2.90% 6.00%

Prime Rate

Treasury Bond, 10-Year

30-Year Mortgage

Housing Starts - US

2017 1,267

2018 1,142 213.9 -9.9% 4.0%

2019 1,291 212.0 13.0% -0.9%

2020 1,395 234.4 8.1% 10.6%

2021 1,605 278.7 15.1% 18.9%

2022 est.

Housing Starts (thousands)

1,446 308.2 -9.9% 10.6%

Home Price Index (year 2000 = 100) 205.7

Housing Starts - % Change Home Prices - % Change

-1.6% 6.2%

38 Financial Salary Guide & Employment Outlook 2023

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