Table V.B1.--Principal Economic Assumptions
Calendar Years 2003-80
Intermediate Assumptions

Average annual percentage increase in--

Calendar year Productivity
(Total U.S.
economy)		 Earnings as
a percent of
compensation		 Average
hours
worked		 GDP
price
index		 Average
annual wage in
covered employment		 Consumer
Price
Index 2		 Real-wage
differential 1
2003 1.9 -0.1 -0.1 1.6 3.9 2.4 1.5
2004 2.3 -.1 .0 1.8 4.4 2.4 2.0
2005 2.1 -.1 .0 2.2 4.3 2.7 1.6
2006 1.9 -.1 .0 2.5 4.3 2.9 1.4
2007 1.8 -.1 .0 2.6 4.4 3.0 1.4
2008 1.7 -.1 .0 2.6 4.3 3.0 1.3
2009 1.7 -.1 .0 2.7 4.3 3.0 1.3
2010 1.7 -.1 .0 2.7 4.2 3.0 1.2
2011 1.6 -.1 .0 2.7 4.2 3.0 1.2
2012 1.6 -.1 .0 2.7 4.1 3.0 1.1
2013 1.6 -.2 .0 2.7 4.2 3.0 1.2
2014 1.6 -.2 .0 2.7 4.1 3.0 1.1
2015 1.6 -.2 .0 2.7 4.1 3.0 1.1
2016 1.6 -.2 .0 2.7 4.1 3.0 1.1
2017 1.6 -.2 .0 2.7 4.0 3.0 1.0
2018 1.6 -.2 .0 2.7 4.1 3.0 1.1
2019 1.6 -.2 .0 2.7 4.0 3.0 1.0
2020 1.6 -.2 .0 2.7 4.1 3.0 1.1
2021 1.6 -.2 .0 2.7 4.1 3.0 1.1
2022 1.6 -.2 .0 2.7 4.1 3.0 1.1
2023 1.6 -.2 .0 2.7 4.1 3.0 1.1
2024 1.6 -.2 .0 2.7 4.0 3.0 1.0
2025 1.6 -.2 .0 2.7 4.1 3.0 1.1
2026 1.6 -.2 .0 2.7 4.1 3.0 1.1
2027 1.6 -.2 .0 2.7 4.1 3.0 1.1
2028 1.6 -.2 .0 2.7 4.1 3.0 1.1
2029 1.6 -.2 .0 2.7 4.1 3.0 1.1
2030 1.6 -.2 .0 2.7 4.1 3.0 1.1
2031 1.6 -.2 .0 2.7 4.1 3.0 1.1
2032 1.6 -.2 .0 2.7 4.1 3.0 1.1
2033 1.6 -.2 .0 2.7 4.2 3.0 1.2
2034 1.6 -.2 .0 2.7 4.1 3.0 1.1
2035 1.6 -.2 .0 2.7 4.1 3.0 1.1
2036 1.6 -.2 .0 2.7 4.1 3.0 1.1
2037 1.6 -.2 .0 2.7 4.1 3.0 1.1
2038 1.6 -.2 .0 2.7 4.1 3.0 1.1
2039 1.6 -.2 .0 2.7 4.1 3.0 1.1
2040 1.6 -.2 .0 2.7 4.1 3.0 1.1
2041 1.6 -.2 .0 2.7 4.1 3.0 1.1
2042 1.6 -.2 .0 2.7 4.1 3.0 1.1
2043 1.6 -.2 .0 2.7 4.1 3.0 1.1
2044 1.6 -.2 .0 2.7 4.1 3.0 1.1
2045 1.6 -.2 .0 2.7 4.1 3.0 1.1
2046 1.6 -.2 .0 2.7 4.1 3.0 1.1
2047 1.6 -.2 .0 2.7 4.1 3.0 1.1
2048 1.6 -.2 .0 2.7 4.1 3.0 1.1
2049 1.6 -.2 .0 2.7 4.1 3.0 1.1
2050 1.6 -.2 .0 2.7 4.1 3.0 1.1
2051 1.6 -.2 .0 2.7 4.1 3.0 1.1
2052 1.6 -.2 .0 2.7 4.1 3.0 1.1
2053 1.6 -.2 .0 2.7 4.1 3.0 1.1
2054 1.6 -.2 .0 2.7 4.1 3.0 1.1
2055 1.6 -.2 .0 2.7 4.1 3.0 1.1
2056 1.6 -.2 .0 2.7 4.1 3.0 1.1
2057 1.6 -.2 .0 2.7 4.1 3.0 1.1
2058 1.6 -.2 .0 2.7 4.1 3.0 1.1
2059 1.6 -.2 .0 2.7 4.1 3.0 1.1
2060 1.6 -.2 .0 2.7 4.1 3.0 1.1
2061 1.6 -.2 .0 2.7 4.1 3.0 1.1
2062 1.6 -.2 .0 2.7 4.1 3.0 1.1
2063 1.6 -.2 .0 2.7 4.1 3.0 1.1
2064 1.6 -.2 .0 2.7 4.1 3.0 1.1
2065 1.6 -.2 .0 2.7 4.1 3.0 1.1
2066 1.6 -.2 .0 2.7 4.1 3.0 1.1
2067 1.6 -.2 .0 2.7 4.1 3.0 1.1
2068 1.6 -.2 .0 2.7 4.1 3.0 1.1
2069 1.6 -.2 .0 2.7 4.1 3.0 1.1
2070 1.6 -.2 .0 2.7 4.1 3.0 1.1
2071 1.6 -.2 .0 2.7 4.1 3.0 1.1
2072 1.6 -.2 .0 2.7 4.1 3.0 1.1
2073 1.6 -.2 .0 2.7 4.1 3.0 1.1
2074 1.6 -.2 .0 2.7 4.1 3.0 1.1
2075 1.6 -.2 .0 2.7 4.1 3.0 1.1
2076 1.6 -.2 .0 2.7 4.1 3.0 1.1
2077 1.6 -.2 .0 2.7 4.1 3.0 1.1
2078 1.6 -.2 .0 2.7 4.1 3.0 1.1
2079 1.6 -.2 .0 2.7 4.1 3.0 1.1
2080 1.6 -.2 .0 2.7 4.1 3.0 1.1
1 The real-wage differential is the difference between the percentage increases, before rounding, in the average annual wage in covered employment, and the average annual Consumer Price Index.
2 The Consumer Price Index is the annual average value for the calendar year of the Consumer Price index for Urban Wage Earners and Clerical Workers(CPI-W).
 Link to FirstGov.gov: U.S. Government portal Privacy Policy | Website Policies & Other Important Information  | Site Map  | Actuarial Publications 3/17/2003