Economy articles
What is the current inflation rate in the US?
The inflation rate was 3.4%, as of August 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 are the biggest drivers of inflation in the past year?
Housing was the main driver of inflation from August 2025 to August 2026. As of August 2025, overall prices increased 3.4% over the previous year. Of this, 1.4 percentage points came from price increases in housing.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 categories with lower weights. By examining the price changes across different categories, we can better understand the factors contributing to the current inflation rate.
How many people are laid off in the US each month?
There were about 1.67 million layoffs and discharges in July 2026. 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 jobs were added in the US last month?
In August 2026, about 162,000 jobs were gained. That's below the monthly average of 196,000 new jobs of the previous five years. This data comes from the Bureau of Labor Statistics' monthly Employment Situation Report, aka the “jobs report,” a closely watched economic indicator. These figures are often revised in later months as more complete data rolls in.
How many people live in subsidized housing in the US?
In 2025, about 8.86 million people lived in subsidized housing. This was equivalent to about 2.0 people per unit. Subsidized housing options vary by location, ranging from high-rise or garden-style apartments to single-family dwellings, duplexes, and more. On average, residents in 2025 have lived in their units for 10 years and 3 months.
How many civilian jobs are in the US federal government?
There are about 2.67 million civilian jobs in the federal government as of August 2026. Federal jobs include all jobs ranging from janitors to air traffic controllers to nurses to postal workers and more. (Enlisted service people are considered government employees but aren’t included in this figure because they’re not civilians.) Out of the 159.1 million nonfarm jobs in the US, 1.7% are in the federal government, the nation’s largest employer. Another way to look at it: The federal government is responsible for 1 in every 60 jobs.
What is the unemployment rate in the US right now?
Unemployment was at 4.1% in August 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 labor force participation rate in the US?
The US labor force participation rate was 61.6% in August 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 value of US trade overall?
The US imported $4.36 trillion and exported $3.43 trillion in goods and services 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 is the average US tariff rate overall?
About 6.8% in June 2026. The average effective tariff rate shows how much the US collects in customs duties as a percentage of the total value of imported goods. However, imports may have different tariff rates (or none at all) depending on factors like country of origin, product type, trade agreements, and much more.
What is the average price of beef in the US?
As of July 2026, the average price of ground beef nationwide was $6.89 per pound. This figure comes from the Bureau of Labor Statistics' (BLS) Average Price data, which tracks the cost of specific items commonly purchased by US households. BLS also tracks broader categories containing many products through the Consumer Price Index (CPI). The CPI category "beef and veal," which includes ground beef along with steaks, roasts, and other cuts, rose 9.4% over the past 12 months.
How much US government debt is owned by other countries?
As of June 2026, about 23.6% of US government debt, or $9.3T, 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.
Who does the US trade with?
Mexico, Canada, and China were the US’ top trading partners in 2025, when combining total imports and exports. The US has trade relations with over 200 countries, territories, and regional associations.
What is the federal government's budget deficit?
The federal government’s fiscal year (FY) 2026 budget deficit is about $1.8 trillion as of July. A budget deficit occurs when the federal government spends more money than it brings in through taxes, customs duties, the sale of assets, and other revenues. When the government has a deficit, it borrows money by selling bonds and other securities in order to pay for it, adding to the national debt. A budget surplus, on the other hand, occurs when the government brings in more money than it spends.
US-Canada trade history in six charts
Tariff increases by the US and Canada in 2026 have intensified trade tensions between two of North America's largest trading partners.
Just the Facts on federal taxes
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?
Just the Facts on US trading partners, imports and exports, and tariffs
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.
Just the Facts on the Federal Reserve
The Federal Reserve may be the most important bank you never use. But why is it called a “bank”, how is it governed, and how does it influence daily life in the US? In this episode of Just the Facts, Steve Ballmer tells you everything you need to know about the Federal Reserve Bank of the United States.
Just the Facts on oil prices
Why do geopolitical tensions with Iran have such a large impact on how much everyday Americans pay for gas at the pump? And why are we seeing oil prices rise when the US is such a large producer of oil? Oil is a global market, so if supply is threatened anywhere, prices can rise everywhere — including at your local gas station.
Just the Facts on donor and recipient states
Every year, the federal government collects trillions of dollars in taxes from individuals and businesses across all 50 states. But does your state get that money back? Or does it send more than it receives?