Economy articles
These reports cover the financial forces that affect daily American life. Discover how exports and imports impact US taxes, debt, and more.
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.
How much US government debt is owned by other countries?
About 25.2%, as of June 2025, or $9.13 trillion. 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.
Updates quarterlyHow active has the 2025 hurricane season been?
Five tropical storms and four hurricanes so far in 2025. In the Atlantic Ocean, tropical storms and hurricanes are the most dangerous designations of storms that are collectively known as tropical cyclones. The average number of such storms per year for the prior decade (2015 to 2024) was 18. That’s the highest 10-year average on record, based on National Oceanic and Atmospheric Administration (NOAA) data dating back to 1851.
Updates weeklyHow long do people wait for subsidized housing in the United States?
Two years and three months, on average, in 2024. That’s an 8% increase since 2023, when recipients spent two years and one month on waiting lists before moving in to subsidized housing.
Updates annuallyWhat is the average wage in the US?
About $1.25K per week in August 2025, 0.5% 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.
Updates monthlyHow much wealth does the American middle class have?
Around $12.9 trillion, or around 8% of all household wealth in the US in Q1 2025. Wealth, also referred to as net worth, is the total value of what people own minus debt like credit card balances and mortgages. If this wealth was divided equally among all middle-class households, each would have roughly $481,000 in wealth.
Updates quarterlyWhat types of work visas and green cards does the US issue?
In FY 2024, 95.2% of work-related arrivals came on temporary visas, while 4.8% received green cards for work. People immigrating to the US for work have two visa options: temporary visas or employer-sponsored green cards that offer permanent residence. The government admits immigrants for multiple reasons: to reunite families, provide safety for refugees, and expand labor pools for seasonal work, among others.In FY 2024, most authorized immigrants — 40% — were admitted on work-related visas. Qualifying for either a temporary work visa or a green card depends on a range of factors, including offers of employment and measures of personal and professional achievement.
Oct 2, 2025What is the labor force participation rate in the US?
It was 62.3% in August 2025. 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.
Updates monthlyWhere does America’s coffee come from?
The United States drinks more coffee than any single country in the world. But very little of that coffee comes from beans grown in the US — aside from a small fraction grown in Hawaii, all of America’s coffee comes imported from countries including Brazil, Colombia, and Switzerland. How much coffee do Americans drink?Americans consume more than one cup of coffee per person daily. That’s equivalent to about 169.1 billion six-ounce cups of coffee, or 463 million per day.
Sep 30, 2025What is the gender pay gap in the US?
Women made about 82 cents for every dollar men made as of the second quarter of 2025. This means that men with full-time jobs typically make 22% more than women in full-time jobs. This ratio compares the median weekly pay of full-time workers—people who usually work 35 hours or more each week.
Updates quarterlyWhat is the unemployment rate in the US right now?
About 4.3% in August 2025. That's a 0.1 percentage point increase from a year before. 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.
Updates monthlyWhat 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.
Updates annuallyHow has inflation affected your dollar?
Inflation, simply put, is the rise in prices over time. As a result, each dollar buys less than it did before. Use this inflation calculator to track the value of the dollar. See how $1 has changed in worth during your lifetime, or even as far back as 1913, when the data begins. Or reverse the numbers and track what the cost of an item today was worth in the past.
Updates monthlyWhat is the poverty rate in the US?
About 10.6% of the population as of 2024. The poverty rate is the percentage of people whose household income falls below the poverty threshold set by the government. It measures the percentage of people in households that don’t earn enough to pay for basic needs like food, housing, and healthcare. In 2024, 35.8 million people lived in poverty.
Updates annuallyHow are Americans doing financially?
More than a quarter of US adults say they’re struggling financially: 73% of Americans reported “living comfortably” or “doing okay,” according to October 2024 survey data from the Federal Reserve. Another 27% said they were either “just getting by” (19%) or “finding it difficult to get by” (8%). The share of people who say they’re doing okay or better is two percentage points lower than pre-pandemic levels, and the lowest since 2016.
Sep 4, 2025What is the Producer Price Index (PPI)?
Government agencies have several indicators for tracking inflation, including the Consumer Price Index (CPI) and its lesser-known counterpart the Producer Price Index (PPI). But PPI is more than an inflation indicator — it’s a measure of overall economic health from the viewpoint of producers and wholesalers.Producer price index definition The PPI is a combination of indexes from the Bureau of Labor Statistics (BLS) that measure the average change over time in the selling prices for goods or services produced domestically. In other words, PPI tracks inflation as manufacturers or suppliers experience it rather than from the consumer’s perspective.What does the PPI measure?The PPI aims to track prices of all output from US producers. This includes goods and services that are purchased by other producers, sold directly to American consumers, and exported to international buyers.In addition to the overall PPI, about 10,000 individual PPIs are released monthly, covering goods in the production sectors such as mining, manufacturing, agriculture, forestry, natural gas, electricity, and construction. It also includes services provided in industries within trade, transportation, warehousing, finance, healthcare, and other service-based sectors.
Aug 14, 2025The Federal Reserve explained
The Federal Reserve, also known as "the Fed," is the central bank of the United States. It was established in 1913 to manage the nation’s monetary policy and respond to stresses in the banking system. What does the Fed do?The Federal Reserve uses its monetary policy tools to influence the national economy. In practice, this means the Fed manages interest rates and the money supply to support job growth and keep prices steady. Supporting maximum employment and stable prices is known as the Fed’s “dual mandate.”The Fed makes short-term changes in interest rates to influence long-term economic growth and stability. The Fed aims to maintain a 2% inflation rate (although it’s been known to set a higher short-term inflation target to manage economic stability). The Fed closely monitors the core Personal Consumption Expenditures index, or core PCE, when making decisions about interest rates and mediating inflation.
Aug 12, 2025How much federal money goes toward all state and local governments?
About $1.1 trillion in fiscal year (FY) 2024. 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 2024, these transfers made up 16.2% of all federal spending.
How many civilian jobs are in the US federal government?
About 2.93 million, as of July 2025. 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 159.5 million nonfarm jobs in the US, 1.8% are in the federal government, the nation’s largest employer. Another way to look at it: The federal government is responsible for one in every 50 jobs.
Updates monthlyHow much money does the US federal government collect?
About $4.9 trillion in fiscal year (FY) 2024. This is about $14,600 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.
Updates monthlyWhat is the federal government’s budget deficit?
About $1.8 trillion deficit in fiscal year (FY) 2024.. 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.
Updates monthlyHow much debt does the US have?
About $37.3 trillion as of August 2025. The federal government borrows money when its spending and investments cannot be funded by federal revenue alone; this debt enables the government to pay for programs and services when funds aren’t immediately available.
Updates monthlyWhat does the United States Mint (USMINT) do?
The United States Mint (US Mint) is a subdivision of the Department of the Treasury responsible for producing coinage for the United States to conduct its trade and commerce. The agency designs and manufactures domestic, bullion, and foreign coins, as well as Congressional Gold Medals and silver, gold, and platinum bullion coins. It also maintains physical custody and protection of the nation's gold and silver assets. It was established in 1792.
Updates annuallyWhat does the Small Business Administration (SBA) do?
The Small Business Administration (SBA) is an independent executive agency responsible for supporting small business owners and entrepreneurs in their business ventures. Its functions include providing small businesses access to capital, offering free or low-cost counseling and training, working with other government agencies to contract small businesses, and advocating on behalf of the small business sector in front of Congress. It was established in 1953.
Updates annuallyWhat does the Office of the US Trade Representative (USTR) do?
The Office of The United States Trade Representative (USTR) is a subdivision of the Executive Office of the President responsible for developing and coordinating US international trade, commodity, and direct investment policy, and overseeing negotiations with other countries. The agency works to create trade opportunities for American businesses and workers, enforce US trade laws, and ensure that trade agreements are fair and beneficial to the US economy. It was established in 1963.
Updates annuallyWhat does the Office of Personnel Management (OPM) do?
The Office of Personnel Management (OPM) is an independent executive branch agency responsible for managing the civil service of the federal government. Its functions include coordinating the recruitment of new government employees, managing health insurance and retirement benefits programs, and providing resources for job seekers. Established in 1979, it serves as the chief human resources agency and personnel policy manager for the federal government.
Updates annuallyWhat does the Occupational Safety and Health Administration (OSHA) do?
The Occupational Safety and Health Administration (OSHA) is a subdivision of the US Department of Labor responsible for ensuring safe and healthy working conditions for workers by setting and enforcing standards and by providing training, outreach, education, and assistance. OSHA's mission is to prevent work-related injuries, illnesses, and deaths by issuing and enforcing rules (called standards) for workplace safety and health. It was established in 1970.
Updates annuallyWhat does the National Labor Relations Board (NLRB) do?
The National Labor Relations Board (NLRB) is an independent executive branch agency responsible for safeguarding employees’ rights to unionize and preventing unfair labor practices. Its functions include conducting union elections, investigating charges of unfair practices, deciding cases, and enforcing punishment. It was established in 1935.
Updates annuallyWhat does the International Trade Administration (ITA) do?
The International Trade Administration (ITA) is a subdivision of the US Department of Commerce responsible for promoting international trade, strengthening the competitiveness of US industry, and ensuring fair trade through rigorous enforcement of trade laws and agreements. The ITA provides data, tools, and resources to help American businesses navigate the complexities of international markets, advocates for US commercial interests abroad, and works to remove trade barriers. It was established in 1980.
Updates annuallyWhat does the Federal Transit Administration (FTA) do?
The Federal Transit Administration (FTA) is a subdivision of the Department of Transportation responsible for providing financial and technical assistance to local public transit systems. The agency oversees safety measures, helps develop new transit technologies, and ensures that transit systems are accessible to all individuals, including those with disabilities. It was established in 1964.
Updates annuallyWhat does the Federal Highway Administration (FHWA) do?
The Federal Highway Administration (FHWA) is a subdivision of the Department of Transportation responsible for overseeing the construction, maintenance, and preservation of the nation's highways, bridges, and tunnels. The agency provides financial and technical assistance to state and local governments to ensure the safety and efficiency of the national highway system. It also develops policies and guidelines to promote innovation and sustainability in transportation infrastructure. It was established in 1966.
Updates annuallyWhat does the Federal Aviation Administration (FAA) do?
The Federal Aviation Administration (FAA) is a subdivision of the US Department of Transportation responsible for regulating and overseeing all aspects of civil aviation in the United States. The agency's primary mission is to ensure the safety and efficiency of the national airspace system. It sets and enforces regulations for aircraft manufacturing and operation, certifies airmen and airports, and manages air traffic control. The FAA also conducts research to improve aviation safety and efficiency, and collaborates with international aviation authorities. It was established in 1958, originally called the Federal Aviation Agency.
Updates annuallyWhat does the Equal Employment Opportunity Commission (EEOC) do?
The Equal Employment Opportunity Commission (EEOC) is an independent executive branch agency tasked with enforcing workplace discrimination laws. Its functions include investigating charges of discrimination against employers, providing guidance and oversight on equal employment practices, and conducting outreach and education programs. Most companies with 15 or more employees are under EEOC jurisdiction. The agency was established by the Civil Rights Act of 1964.
Updates annuallyWhat does the Department of Transportation (DOT) do?
The Department of Transportation (USDOT, DOT) is a cabinet-level executive branch agency responsible for overseeing national transportation systems and infrastructure. Its functions include developing and implementing federal transportation policies; ensuring the safety and efficiency of highways, railroads, air travel, and maritime transport; and administering funding for transportation projects including local transit systems. It was established in 1966.
Updates annuallyWhat does the Department of the Treasury (TREAS) do?
The Department of the Treasury (Department of Treasury, TREAS) is a cabinet-level executive branch agency responsible for overseeing economic conditions and ensuring the financial security of the United States. The department's functions include advising the president on economic matters, managing federal finances, collecting taxes through the Internal Revenue Service, producing currency, and supervising national banks. It was established in 1789 and is the second-oldest department in the federal government.
Updates annuallyWhat does the Department of Labor (DOL) do?
The Department of Labor (DOL) is an executive branch agency responsible for overseeing the American labor force and working conditions. Its functions include enforcing wage and hour standards and union law, regulating workplace safety, administering unemployment benefits and workers’ compensation, collecting labor market data, and promoting workforce development. It was established in 1913.
Updates annuallyWhat does the Department of Housing and Urban Development (HUD) do?
The Department of Housing and Urban Development (HUD) is an executive branch agency responsible for national housing policy and community development. Its functions include providing affordable housing assistance, enforcing fair housing laws, supporting homeownership programs, and administering grants for urban development and disaster recovery. It was established in 1965.
Updates annuallyWhat does the Department of Energy (DOE) do?
The Department of Energy (DOE) is an executive branch agency responsible for overseeing national energy policy and managing the country’s nuclear infrastructure. Its functions include advancing energy research and innovation, promoting energy efficiency and renewable energy, regulating the production and distribution of electricity and fossil fuels, and ensuring the security of the US nuclear weapons stockpile. It was established in 1977.
Updates annuallyWhat does the Department of Commerce (DOC) do?
The Department of Commerce (DOC) is an executive branch agency responsible for supporting economic growth within the US. Its functions include promoting job creation, sustainable business development, and ensuring economic competitiveness. It was established in 1903.
Updates annuallyWhat is the income of a US household?
About $77,700 in median income in 2023. Household income is the total money received in a year — wages, pensions, investments, public assistance, and more — by everyone in a household over 15.
Updates annually