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Gasoline Is Saving The Economy
TBI ^ | 5-3-2013 | Joe Weisenthal

Posted on 05/03/2013 1:40:19 PM PDT by blam

Gasoline Is Saving The Economy

Joe Weisenthal
May 3, 2013

Today's jobs report was a big sigh of relief.

Unemployment fell. Retail jobs were added in solid numbers, and there were big upward revisions to March and February numbers.

America seems to be avoiding recession, even with the hit from the sequester.

So how are things chugging along? Part of it may be expansive monetary policy, but there's another factor that's starting to turn bullish for the consumer: Gas prices.

Here's a look at the year-over-year change in the cost of the average gallon of gasoline.

The drop of close to 10% is the biggest drop since 2010.

FRED

Not only are gas prices becoming less of a burden, but average hourly wage growth has improved.

Year-over-year growth in average hourly wages (while a little weak lately) has been stronger than it's been in awhile.

FRED

The upshot is that every hour Americans are working these days is buying them more and more gas, relieving a pretty significant economic burden.

Here's a look at how many gallons of gasoline the average worker can buy with an hour's work. It's still a little bumpy, but the trend is higher.

FRED

And you can really see it happening on this chart, which shows the year-over-year change in how much gasoline the average worker can buy in an hour.

As you can see, the average worker can now buy 15% more gasoline with an hour's wages than they could buy at this time last year.

FRED

Given how significant gas prices are as a "drag" on the economy, this is a big tailwind, that could theoretically go a long way.

(Excerpt) Read more at businessinsider.com ...


TOPICS: News/Current Events
KEYWORDS: economy; emplouyment; energy; gasoline; recession

1 posted on 05/03/2013 1:40:20 PM PDT by blam
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To: blam
Fracking helped lower the price of natural gas also and large oil discoveries have made the improvements in employment to overcome the flub ups of the government.
2 posted on 05/03/2013 1:43:24 PM PDT by mountainlion (Live well for those that did not make it back.)
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To: blam

Where is this “cheap gas”? It’s at $3.75 here, and I expect it to go above $4 when the driving season starts.


3 posted on 05/03/2013 1:45:55 PM PDT by Politicalmom (Liberalism. Ideas so great they have to be mandatory.-FReeper Osage Orange)
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To: blam

Unemployment went down. Total hours worked went down as well. Obamacare part-timers.

Where are the media accusations of McJobs?


4 posted on 05/03/2013 1:50:28 PM PDT by Jacquerie (How few were left who had seen the republic! - Tacitus, The Annals)
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To: Politicalmom

What’s with “percentage change from 1 year ago”? How about real numbers? Those graphs mean absolutely nothing.


5 posted on 05/03/2013 1:50:30 PM PDT by Cololeo (`)
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To: blam

“...a look at how many gallons of gasoline the average worker can buy with an hour’s work...”
-
That’s an interesting chart.
I would love to see that chart done with a gallon of milk; a loaf of bread; or a pound of ground beef.


6 posted on 05/03/2013 2:04:12 PM PDT by Repeal The 17th (We have met the enemy and he is us.)
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To: Politicalmom

Average Regular Gas Price By State http://gasbuddy.com/GB_Price_List.aspx?cntry=USA


7 posted on 05/03/2013 2:13:49 PM PDT by Jyotishi (Seeking the truth, a fact at a time.)
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Comment #8 Removed by Moderator

To: usconservative

saving the economy...for now. Look at what it is today. And it goes up $2.00 on anything resembling good news.


9 posted on 05/03/2013 2:33:05 PM PDT by The Antiyuppie ("When small men cast long shadows, then it is v?ery late in the day.")
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To: The Antiyuppie

...that is, the price per barrel. It was $86 not too long ago.


10 posted on 05/03/2013 2:33:56 PM PDT by The Antiyuppie ("When small men cast long shadows, then it is v?ery late in the day.")
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To: Cololeo
Image and video hosting by TinyPic

Image and video hosting by TinyPic

Image and video hosting by TinyPic

Weekly U.S. All Grades All Formulations Retail Gasoline Prices
http://www.eia.gov/dnav/pet/hist/LeafHandler.ashx?n=PET&s=EMM_EPM0_PTE_NUS_DPG&f=W

11 posted on 05/03/2013 2:37:16 PM PDT by thackney (life is fragile, handle with prayer)
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To: Politicalmom

Real good question; I just paid 4 dollars and 3 cents a gallon yesterday, for regular.


12 posted on 05/03/2013 3:23:18 PM PDT by 5th MEB (Progressives in the open; --- FIRE FOR EFFECT!!)
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To: Politicalmom

I just paid 4.19 not two hours ago. filling the tank was 75.00. cheap gas?


13 posted on 05/03/2013 3:48:06 PM PDT by Brasky
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To: blam

There’s plenty of oil, I would see. Refining capacity is the big bottleneck, IMHO. There were accidents, to be sure. Obama administration is to blame for some refinery shutdowns. Situation is still very taut.


14 posted on 05/03/2013 3:49:05 PM PDT by Gluteus Maximus
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To: Brasky

Best price for regular here is $3.25. Premium is $3,65


15 posted on 05/03/2013 3:53:12 PM PDT by RegulatorCountry
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To: Cololeo
What’s with “percentage change from 1 year ago”? How about real numbers? Those graphs mean absolutely nothing.

Boy, do I agree. They are more and more commonly-used and, you're right, they don't mean a danged thing.

16 posted on 05/03/2013 4:31:02 PM PDT by BfloGuy (Don't try to explain yourself to liberals; you're not the jackass-whisperer.)
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To: blam

BTTT


17 posted on 05/03/2013 5:33:28 PM PDT by hattend (Firearms and ammunition...the only growing industries under the Obama regime.)
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To: hattend

$3.21 in Orlando this past w/e.

$3.49 in Ft. Lauderdale


18 posted on 05/03/2013 6:55:34 PM PDT by bicyclerepair (0bama is a POS, with all due respect to excrement.)
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To: blam

You believe this garbage? 4 buck gas is a boon to the economy? Good Lord.


19 posted on 05/03/2013 6:57:02 PM PDT by jwalsh07
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To: Jacquerie

You just don’t understand the plan.
Cut back their hours to avoid the cost.
Then they have to get another part time job to break even.
Job growth is up, don’t you see.
A new job has been created.
/double sarc


20 posted on 05/03/2013 9:21:16 PM PDT by glyptol
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To: jwalsh07

Well, it COULD be 5 buck gas so the fact we’re only paying 4 bucks is good.

It’s the way Liberals do math.


21 posted on 05/04/2013 12:30:18 PM PDT by hattend (Firearms and ammunition...the only growing industries under the Obama regime.)
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