Economy articles
How much revenue does the federal government collect from tariffs?
$77.0 billion in FY 2024. 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.
What 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.
What 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.
What 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.
What 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.
What 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.
What 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.
What 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.
What does the Bureau of Economic Analysis (BEA) do?
The Bureau of Economic Analysis (BEA) is a subdivision of the US Department of Commerce responsible for providing important economic statistics including the gross domestic product (GDP) of the United States. The agency collects and analyzes data on economic performance, trade, and industry, which helps inform public policy and business decisions. It was established in 1972.
What 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.
What 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.
What 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.
What 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.
What 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.
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.
What 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.
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 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.
What 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.
What 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.
What 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.
How 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.
How many households in the United States spend too much on housing?
About 42.5 million in 2024. That's 33% of all households. These households spent at least 30% of their total income on rent or mortgage payments and utilities. The Department of Housing and Urban Development considers households that spend more than 30% of their income on housing to be cost-burdened. Cost-burdened households may have less money for other necessities such as food, healthcare, or savings.
What countries receive the most foreign aid from the US?
In fiscal year (FY) 2023 — the most recent fully-reported year — Ukraine received $16.6 billion, the most of any country. This amount reflects disbursements, a measure of foreign aid that captures when money is actually transferred out of US government accounts. Foreign aid is reported by more than 20 agencies within the federal government that fund foreign assistance activities.
What 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.
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 federal government spend on SNAP every year?
About $100.3 billion during fiscal year (FY) 2024. That’s 1.5% 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 do teachers get paid in the US?
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.
What 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.
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.
How has online shopping changed the retail industry?
At the turn of the century, only $0.90 of every $100 spent Americans spent on retail items was spent online. In 2024, that average was $16.10.Now, nearly a quarter of the way into the 21st century, the internet has transformed industries in all sectors of the economy, and retail is no exception.What percentage of shopping happens online?In 2024, Americans spent $1.2 trillion on online retail, or a record 16.1% of the $7.2 trillion spent on retail overall. This is nearly two percentage-points higher than 2022, when 14.4% of retail sales happened online.
What is the labor force participation rate in the US?
It was 62.4% in September 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.
What is the unemployment rate in the US right now?
About 4.4% in September 2025. That's a 0.3 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.
Are Americans spending more during the holidays than ever before?
If you can’t tell it’s the winter holiday season from the festive commercials, lights, and music, you can probably tell by your dwindling bank account balance. Americans spent an estimated $600.53 billion in the retail sector in December 2024, according to the Census Bureau’s Monthly Retail Trade Report — the first time monthly consumer spending topped $600 billion.That’s about $1,766 per person, and a jump from the estimated $541.87 billion spent in November 2024. December 2024’s spending was the highest monthly total spending amount and second highest monthly per-person spending on record, ever.Prior to 2024, total retail and food sales peaked in December 2021: around $598.36 billion, 0.4% less than in 2024 (after accounting for inflation). People have spent more in December than any other month since at least 1992. November is typically the second-spendiest month each year, except for 2008 and 2009.
How many people live in subsidized housing in the United States?
About 9.05 million people in 2023, or 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 2023 had lived in their units for ten years and two months.
What is the homeownership rate in the US?
About 65.6% in 2024. That means about 2 in 3 households owned their home while the remainder rented.
How much debt does the US have?
About $37.6 trillion as of September 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.
How much foreign aid does the US provide overall?
About $99.8 billion in aid was promised for fiscal year (FY) 2023, the most recent fully-reported year. The United States gives foreign assistance to provide humanitarian aid and support peace, security, and economic development around the world. Investing in global security and stability serves US national security interests by creating strategic and economic connections with other countries.
What are the biggest drivers of inflation in the past year?
From September 2024 to September 2025, mostly housing and medical care. During that time frame, housing and medical care price increases accounted for two-thirds 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 September 2025, overall prices increased 3.0% 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 other categories. 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 United States each month?
About 1.7 million in August 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.