ARG Financial Salary Guide 2024

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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