The 1980's

The 1980's

Period: Jan 1, 1980 to Jan 1, 1989

Prime rate changed dramtically

Nov 16, 1980

1980 Economic Indicators

Dec 31, 1980

Inflation rate = 13.5%
Nominal Household Income = $16,354
Inflation Adjusted Household Income = $46,205
GDP = 6.50 Trillion
Unemployment rate = 6.30%
30 Year Mortgage Rate = 13.77%

Minimum wage raised from $3.10 to $3.35

Jan 1, 1981

1981 Economic Indicators

Dec 31, 1981

Inflation rate = 10.3%
Nominal Household Income = $17,743
Inflation Adjusted Household Income = $46,205
GDP =  6.59 Trillion
Unemployment rate = 7.50% 
30 Year Mortgage Rate = 16.63%

Bussiness bankruptcies rose 50%

Apr 28, 1982

1982 Economic Indicators

Dec 31, 1982

Inflation rate = 6.2%
Nominal Household Income = $18,801
Inflation Adjusted Household Income = $46,082
GDP =  6.49 Trillion
Unemployment rate = 8.60%
30 Year Mortgage Rate = 16.08%

An earthquake measuring 6.5 on the richter scale strikes coalinga, California

Jun 4, 1983

1983 Economic Indicators

Dec 31, 1983

Inflation rate = 3.2
Household Income Nominal = $19,265
Household Income Inflation Adjusted = $45,760
GDP = 7.00 Trillion
Unemployment Rate = 10.40%
30 Year Mortgage Rate = 13.23

1984 Economic indicators

Dec 31, 1984

Inflation rate = 4.3
Household Income Nominal = $20,712
Household Income Inflation Adjusted = $47,181
GDP = 7.40 Trillion
Unemployment Rate = 8.00%
30 Year Mortgage Rate = 13.87%

Prime rate raised from 12-1/2 percent to 13 percent

Jun 26, 1985

World oil prices fall by more than a dollar after OPEC decides to abandon price supports

Dec 10, 1985

1985 Economic Indicators

Dec 31, 1985

Inflation rate = 3.6
Household Income Nominal = $21,851
Household Income Inflation Adjusted = $48,063
GDP = 7.71 Trillion
Unemployment Rate = 7.30%
30 Year Mortgage Rate = 12.42%

Stock market prices soared as the Dow Jones Industrial average jumped 38.38 points to a closing record of 1919.17

Sep 4, 1986

1986 Economic Indicators

Dec 31, 1986

Inflation rate = 1.9
Household Income Nominal = $23,041
Household Income Inflation Adjusted = $49,764
GDP = 7.94 Trillion
Unemployment Rate = 6.70%
30 Year Mortgage Rate = 10.18%

Ecuador is rocked by severe earthquake

Mar 5, 1987

1987 Economic Indicators

Dec 31, 1987

Inflation rate = 3.6
Household Income Nominal = $24,187
Household Income Inflation Adjusted = $50,389
GDP = 8.29 Trillion
Unemployment Rate = 6.60%
30 Year Mortgage Rate = 10.20%

California's minimum wage raised from $3.35 to $4.25

Jul 1, 1988

1988 Economic Indicators

Dec 31, 1988

Inflation rate = 4.1
Household Income Nominal = $25,388
Household Income Inflation Adjusted = $50,776
GDP = 8.61 Trillion
Unemployment Rate = 5.70%
30 Year Mortgage Rate = 10.34%

Hurricane Hugo hits the Carolinas causing extensive property damage

Sep 21, 1989

1989 Economic Indicators

Dec 31, 1989

Inflation rate = 4.8
Household Income Nominal = $27,081
Household Income Inflation Adjusted = $51,681
GDP = 8.85 Trillion
Unemployment Rate = 5.40%
30 Year Mortgage Rate = 10.32%