Economy articles
What are the biggest drivers of inflation in the past year?
Housing and transportation were the main drivers of inflation from April 2025 to April 2026. As of April 2026, overall prices increased 3.8% over the previous year. Of this, 1.6 percentage points came from price increases in housing, or about two-fifths of it.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. 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 other categories. By examining the price changes across different categories, we can better understand the factors contributing to the current inflation rate.
What is the average wage in the US?
The average wage was $1,283 per week in April 2026, 0.2% lower 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.
Are wages keeping up with inflation?
No. From April 2025 to April 2026, wages grew 0.24 percentage points slower than inflation. Nominal wages — the literal dollars earned regardless of cost of living — increased by 3.6% while inflation stood at 3.8%. When wage growth trails inflation, it indicates that workers are experiencing a decrease in purchasing power from the previous year.
How many job openings are there in the US?
About 6.87 million, as of March 2026. The number of job openings decreased by 86,000 from March 2025. 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.
How much federal money goes toward all state and local governments?
The federal government provided $1.22 trillion to state and local governments in fiscal year (FY) 2025. This total includes money transferred to states, tribal governments, and local governments, such as cities and counties. Federal funding helps state and local governments pay for things like infrastructure, education, and health care for low-income people. In FY 2025, these transfers made up 17% of all federal spending.
What is the current inflation rate in the US?
The inflation rate was 3.8%, as of April 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.
What is the unemployment rate in the US right now?
Unemployment was at 4.3% in April 2026. That's unchanged 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.
What is the income of a US household?
The median household income in the US was $81,600 in 2024. Household income is the total money received in a year — wages, pensions, investments, public assistance, and more — by everyone in a household over 15.
How much money does the US federal government collect?
The federal government collected $5.26 trillion in fiscal year 2025. This is about $15,400 per person in the US, however individual contributions vary based on income, spending, and other factors. Government revenue is the total amount of money received from individual and corporate taxes, and other sources that are used to pay for government spending.
How many nurses are there in the US?
In 2024, around 4.3 million people worked as nurses. That’s around 2.8% of all employed people, or about one in 36 employees nationally.
What is the labor force participation rate in the US?
The US labor force participation rate was 61.9% in March 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 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.
How much does the federal government spend on SNAP every year?
The federal government spent $101.7 billion on SNAP during fiscal year (FY) 2025. That’s 1.4% of all federal spending. The Supplemental Nutrition Assistance Program (SNAP), once known as the Food Stamp program, is administered by the Department of Agriculture providing food assistance to low-income people.
How much does the US federal government spend?
About $7.04 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.
How do marijuana laws differ between states?
While marijuana remains illegal at the federal level per the 1970 Controlled Substances Act (CSA), the US has become a patchwork of state-determined laws pertaining to the drug. Some states have legalized recreational marijuana, others allow medicinal use and/or CBD oil. A few states have decriminalized the plant, and a handful follow the federal guidelines. What does marijuana legalization mean?In the United States, marijuana legalization refers to the process of making marijuana use, possession, and sales legal under certain conditions. Adults in states where the drug is legal can use it for both medical and recreational purposes, following state laws. Legalization allows for regulated sales of products that contain cannabidiol (CBD) and delta-9-tetrahydrocannabinol (THC). Medical cannabis laws also fall under this category, permitting patients with conditions such as chronic pain, multiple sclerosis, insomnia, and depression to use the substances for treatment. Since marijuana remains federally classified as an illegal drug, state legalization has many implications on federal income taxes filed by dispensaries, as well as the cross-border sale and transportation of cannabis products.
How much do you pay in gas taxes?
US gas prices increased by $1.11 per gallon — about 37% — from March to April while the global economy responded the limited crude oil supply passing through the Strait of Hormuz. The average per-gallon price rose from $3.02 on March 2 to $4.12 on April 27, according to data from the Energy Information Administration (EIA). But prices vary broadly by state. Californians, who are paying $5.79 at the average station as of the latest data, may not feel much sympathy for their Texan counterparts, who pay $3.66 (even after an increase of over a dollar locally, as well). Gas prices in California haven’t been that low in over five years. So why the regional differences? The EIA says it’s everything from a region’s proximity to the supply to competition among local gas stations. Some factors — like supply disruptions — can be out of government’s (and even industry’s) control. But other factors are more directly in the hands of regional governments. Perhaps most directly: taxes. How do gas taxes work? A little over half of what you pay per gallon of gas covers the cost of the crude oil. Another 20% is refinery costs, and 11% is marketing and distribution. The remaining 18% is tax. When you fill up at the pump, your purchase is subject to multiple layers of taxation. The federal government imposes a flat tax on all gas purchases. Congress raised this to 18.4 cents per gallon in 1993 and it hasn’t changed since. Plus, every state government and Washington, DC, levy their own per-gallon gasoline excise taxes. On top of any volume-based taxes, most states have general sales taxes that add some percentage of all purchases, including gas. Finally, state legislation sometimes includes additional fees for storage, inspection, environmental cleanup, or other considerations.
What is the gross domestic product (GDP) in the US?
The gross domestic product (GDP) was $24.2 trillion in Q1 2026. 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 $24.2 trillion is the “real GDP,” which is adjusted to account for inflation to make it easier to compare the size of an economy over time.
What is the value of US trade overall?
$3.43 trillion in exports and $4.34 trillion in imports in 2025. 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
What does the Consumer Financial Protection Bureau (CFPB) do?
The Consumer Financial Protection Bureau (CFPB) is an independent agency responsible for consumer protection in the financial sector. The bureau's primary mission is to ensure that markets for consumer financial products and services work for Americans. The CFPB enforces federal consumer financial laws, supervises financial institutions, and educates consumers to make informed financial decisions. It was established in 2010 as part of the Dodd-Frank Wall Street Reform and Consumer Protection Act.
What does the Bureau of Labor Statistics (BLS) do?
The Bureau of Labor Statistics (BLS) is a subdivision of the US Department of Labor responsible for measuring labor market activity, working conditions, and price changes in the economy. The agency collects, analyzes, and disseminates essential economic information to support public and private decision-making. It also conducts research and provides data on employment, unemployment, inflation, productivity, and other economic indicators. It was established in 1884.