California Chrome goes for horse racing's Triple Crown this weekend at the Belmont Stakes. Even if he wins, the horse won't likely sell for the top rates -- as high as $60 million -- that we've seen in the past.
So here's a look at some of the other numbers around the horse:1978
The last year there was a Triple Crown winner. The horse was named Affirmed.11
The number of horses that Daily Racing Forum says have been in a similar position to California Chrome since 1978.$15 million
How much Peter Bradley III, one of the top bloodstock agents in the country for thoroughbred racing, guesses California Chrome is worth today. Others in the horse racing industry say he's worth a few million more, or a few million less.$30 million
How much California Chrome's trainer, Art Sherman, says the horse is worth.1
The number of shoe companies sponsoring California Chrome. This week, Skechers announced they were going to sponsor the horse. Though, don't get excited for a horse in sneakers -- California Chrome's trainers will be the ones sporting Skechers' shoes.
Employers likely added 213,000 new jobs in May, according to the consensus estimate of economists cited by Bloomberg, while April’s job gain was 288,000. The unemployment rate likely increased 0.1 percent in May to 6.4 percent, after sharply declining in April (from 6.7 percent to 6.3 percent).
If these expectations pan out, May’s performance would confirm a return to steady, modest growth in the economy and the labor market. That follows a volatile winter with multiple severe storms that pushed the overall economy into a surprising quarterly decline in GDP. A projected increase in the unemployment rate in May would likely be caused by people returning to the workforce as job-hunters. April’s drop in unemployment was attributed to a steep decline in the size of the workforce.
“We’re back on track right now,” says Bernie Bauhmolh at the Economic Outlook Group in Princeton, New Jersey.
The economy has now been creating an average of 237,000 jobs per month since February. First-time claims for state unemployment benefits are at a seven-year low.
“The economy is looking better,” says Baumohl. “We’ve seen better performances in manufacturing and services and auto sales. Confidence levels are also higher among consumers and business leaders. It’s going to encourage employers to accelerate hiring.”
Paul Osterman at the MIT Sloan School of Management says the next signs of significant progress in the employment recovery would be improvement in workers’ real wages, and an increase in the employment-to-population ratio, which measures how many adults are working compared to the total population of potential workers. That ratio fell sharply in the recession and has not rebounded significantly since.
As jobs get more plentiful at all wage levels, employers can be expected to compete to attract and retain workers. In response, they might begin raising wages.
“Over the last twelve months real wages have gone up by a little bit under 2 percent," says Osterman. "That’s better than zero, but it’s below productivity gains.”
In other words, employees have been producing more for their bosses, driving profits up, without getting much extra in their paychecks in return.