Economy articles
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 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 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.
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 is the homeownership rate in the US?
The homeownership rate in the US was 65.2% in 2025. That means about 2 in 3 households owned their home while the remainder rented.
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 people are laid off in the United States each month?
About 1.72 million in February 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 civilian jobs are in the US federal government?
About 2.69 million, as of January 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 158.6 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 one in every 60 jobs.
How much debt does the average person in the US owe?
Around $63,300 as of the third quarter of 2025. Compared to the previous quarter (April through June 2025), the average adult owed $136 less after adjusting for inflation, reflecting slight shifts in household borrowing patterns. This debt, often referred to as “household debt,” represents the total amount owed by individuals for obligations such as mortgages, student loans, credit cards, and auto loans.
What is the gender pay gap in the US?
Women made about 81 cents for every dollar men made as of the third quarter of 2025. This means that men with full-time jobs typically make 24% 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?
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.
What is the average US tariff rate overall?
About 9.9% in January 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.
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.
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 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 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 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 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 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 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.