Key Economic Data
Unemployment Rate
2019 3.5% 2.4% 4.0%
2020 6.7% 2.8% 11.0%
2021 5.7% 3.7% 5.6%
2022 3.5% 2.7% 4.4%
2023f
National
3.5% 3.6% 5.4%
Orange County
LA County
Labor Force Participation Rate 2019
2020 61.5% 60.1%
2021 61.9% 61.1%
2022 62.3% 62.2%
2023f 62.6% 62.3%
National California
63.2% 62.8%
Real GDP
2019
2020
2021
2022
2023f
Real GDP - Billions $
$19,090
$18,385 $19,427 $20,182
$20,386
Real GDP - Annual % Change
2.5%
-3.7%
5.7%
2.4%
1.0%
Inflation Measures
2019 2.3%
2020 1.9%
2021 3.4%
2022 8.0%
2023f
CPI - Annual % Change
3.0%
Interest Rates
2019 1.55% 4.75% 1.92% 3.73%
2020 0.08% 3.25% 0.93% 2.67% 2020 1,395 234.4 8.1% 10.6%
2021 0.10% 3.25% 1.45% 2.96% 2021 1,605 278.7 15.1% 18.9%
2022 4.10% 7.50% 3.60% 6.40%
2023f 5.25% 8.75% 4.20% 7.25%
Federal Funds Rate
Prime Rate
Treasury Bond, 10-Year
30-Year Mortgage
Housing Starts: US
2019 1,291
2022 1,357 294.3 -15.5%
2023f
Housing Starts (thousands)
1,452 308.3
Home Price Index (year 2000= 00) 212.0
Housing Starts - % Change Home Prices - % Change
13.0% -0.9%
7.0% 4.7%
5.6%
30 Financial Salary Guide & Employment Outlook 2024
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