Economy articles
What are the biggest drivers of inflation in the past year?
From February 2025 to February 2026, mostly housing. During that time frame, housing price increases accounted for three-fifths of the overall inflation rate. The inflation rate is calculated using the Consumer Price Index (CPI), which tracks the price changes of a consistent basket of goods and services over time. As of February 2026, overall prices increased 2.4% over the previous year. Each item in this basket is given a weight that reflects how much the average urban household spends on it. Items with higher weights, like shelter, tend to have a larger impact on the overall inflation rate than categories with lower weights. By examining the price changes across different categories, we can better understand the factors contributing to the current inflation rate.
What is the current inflation rate in the US?
About 2.4%, as of February 2026. Inflation refers to the rise in prices of goods and services over time, which reduces the purchasing power of the dollar. The inflation rate is the percentage that describes how quickly these prices are rising. While several government datasets track price changes, the Consumer Price Index (CPI) represents about 90% of the US population. The CPI measures inflation by tracking the price fluctuations of a “basket of goods and services” over time, providing a clear picture of how inflation affects everyday living expenses.
Who does the US trade with?
Mexico, Canada, and China were the US’ top trading partners in 2024, when combining total imports and exports. The US has trade relations with over 200 countries, territories, and regional associations.
How much do teachers get paid in the US?
Teachers made about $63,100 per year in 2024. That’s the annual median wage for pre-K-12 teachers across the United States, based on estimates from the Bureau of Labor Statistics. The median marks the middle point—half of teachers earn more and half earn less. The lowest-paid 10% earned $46,900 or less, while the highest-paid 10% earned $102,300 or more.
How much US government debt is owned by other countries?
As of June 2025, about 25.2% of US government debt, or $9.13 trillion, is owned by other countries. When the federal government spends more money than it collects in revenue, it sells US Treasury securities to bring in cash and pay for the difference. People, governments, corporations, and investment funds like retirement accounts — both US and international — can purchase these.
Just the Facts about the US economy
How does the government measure the economy? By tracking GDP, unemployment numbers, and the prices people pay for goods and services.
US Federal Taxes: How the US Federal Government is Funded
The federal government collected $4.9 trillion in revenue in 2024, 99% of which came from taxes. How much does the average American pay? And who pays the most?
US trading partners, imports and exports, and how tariffs factor in
In 2024, the US imported $4.1 trillion and exported $3.2 trillion in goods and services. Higher tariffs can raise prices and the impact on US jobs is a complex issue. Join Steve as he talks through US trade, tariffs and their impact, US trade partners, trade agreements, and more.
What is the labor force participation rate in the US?
It was 62% in February 2026. The labor force participation rate measures the percent of people ages 16 and older engaged in the labor market, including those who are working or who are unemployed but actively looking for a job.
What is the unemployment rate in the US right now?
About 4.4% in February 2026. That's a 0.1 percentage point increase from the prior month. The unemployment rate is the percentage of people in the labor force who are actively looking for work but not currently employed. It's a common way to measure the health of the job market and economy.
Is the US a bigger oil importer or exporter?
In 2025, the US exported more crude oil and petroleum products than it imported. Petroleum and petroleum product exports totaled about 10.7 million barrels per day, while imports were about 7.9 million barrels a day. That’s a -2.8 million barrel a day difference. Crude oil is a fossil fuel that can be refined into petroleum products such as jet fuel and gasoline. The US used to consistently import more petroleum and crude oil than it exported. But exports exceeded imports starting in October 2019. It’s been a net exporter in all but seven months since then.
How much revenue does the federal government collect from tariffs?
$194.9 billion in FY 2025. This figure reflects revenue from tariffs and other import-related fees, also known as customs duties. Customs duties are taxes and fees paid by US importers and collected by US Customs and Border Protection on goods imported into the country, which generate revenue for the federal government.
Are groceries more expensive than last year?
Grocery store food prices increased 2.1% from January 2025 to January 2026, according to the Bureau of Labor Statistics (BLS). That’s less than the increases for utility gas (9.8%), electricity (6.3%), medical services (3.9%), and shelter (3.0%), but more than new vehicles (0.4%), transportation services (1.3%), apparel (1.7%), and gasoline (-7.5%). A 2.1% increase is 0.1 percentage points above the 2% of the Federal Reserve’s inflation target, which aims to foster stable economic development.
What is the value of US trade overall?
$3.23 trillion in exports and $4.14 trillion in imports in 2024. Benefits of trade can include higher wages and job growth, a wider variety of products available at lower prices, increased productivity, and more efficient resource allocation.
How much does the US federal government spend?
About $7.05 trillion in fiscal year (FY) 2025. This averages about $20,600 per person in the US. The amount the government can spend depends on the amount of revenue it collects (e.g., through taxes, customs duties, and other sources). If it has to spend more revenue than it brings in, it borrows the funds, creating debt.
What is the federal poverty level?
The federal poverty guidelines — also known as the federal poverty level (FPL) — are used by federal agencies to determine eligibility for programs like Medicaid and the Children’s Health Insurance Program (CHIP). These guidelines are issued annually by the Department of Health and Human Services (HHS) and are based on the official poverty thresholds calculated by the Census Bureau. They set the income limits for many need-based programs, helping determine who qualifies for assistance. While the thresholds are more detailed and used for statistical measurement of poverty, the FPL is a simplified version designed for administrative purposes. The guidelines are adjusted for inflation each year and vary by household size.
What is the gross domestic product (GDP) in the US?
About $24.1T in Q4 2025. Gross domestic product (GDP) measures the value of goods and services a country or state produces — it’s the sum of consumer spending, business investment, government spending, and net exports. It is often used to quantify the size of its economy. The $24.1T is the “real GDP,” which is adjusted to account for inflation to make it easier to compare the size of an economy over time.
How many people are laid off in the United States each month?
About 1.76 million in December 2025. This includes all terminations of employment by an employer — called layoffs and discharges — such as permanent layoffs, temporary layoffs, and terminations because of mergers, downsizing, closings, or employee performance.
How many job openings are there in the US?
About 6.54 million, as of December 2025. The number of job openings decreased by 966,000 from December 2024. A “job opening” is defined as a position open on the last business day of the month. To be considered “open,” a job must meet three conditions: (1) There’s work available for the position; (2) The job could start within 30 days; and (3) The employer is actively recruiting.
What is the average wage in the US?
About $1,275 per week in January 2026, 1.9% higher than a year before. The average weekly wage, the typical earnings that employees bring home for one week of work, is a valuable indicator to assess economic conditions, labor market health, and wage trends.