Meanwhile, with an increasing number of females working in the coming years, their spending power will rise
, adding to the consumption recovery.
Because this average pace is below the rise
in the economy's potential, they see the unemployment rate increasing to about 4 1/2 percent by the fourth quarter of this year.
Like the melting of ice from alpine glaciers and along Greenland's margin, drainage of underground water reservoirs for human use enhances sea-level rise
because much of this water eventually runs into the ocean.
Indeed, wages, while showing some rise
recently, still seem to be under control.
According to the report, scientists studying the rise
will need more monitoring stations that record not only the sea level rise
but also the rate of beach erosion and other secondary effects.
Also, house prices have firmed somewhat, which may have raised confidence in the investment value of residential real estate and thus contributed to the recent rise
in the homeownership rate, which is now at its highest level since the early 1980s.
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Price increases were damped last year by falling oil prices, near-stable prices for non-oil imports, and a further rise
in labor productivity, which held down production costs in the domestic economy.
Nevertheless, real median gross holdings for those with vehicles rose from $5, 100 to $6,900: This rise
reflects the increase in the real cost of automobiles.
In particular, energy prices increased sharply, as the rise
in crude oil prices between November 1988 and May 1989 was passed through, and food prices surged as the agriculture sector continued to experience adverse supply developments.
Finally, operating costs continued to rise
as the industry tried to coax extra out of a system that is running at or near capacity.
However, with labor markets tightening, there also was a quickening in the rise
of wages and total hourly compensation, which affected prices more generally.