Economy articles
How many jobs were added in the US last month?
In June 2026, about 57,000 jobs were gained. That's below the monthly average of 219,400 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 indicators. These figures are often revised in later months as more complete data rolls in.
What is the federal government's budget deficit?
The federal government’s fiscal year (FY) 2026 budget deficit is about $1.25 trillion as of May. 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.
What is the labor force participation rate in the US?
The US labor force participation rate was 61.5% in June 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 average price of beef in the US?
As of May 2026, the average price of ground beef nationwide was $6.75 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 12.9% over the past 12 months.
What is the unemployment rate in the US right now?
Unemployment was at 4.2% in June 2026. That's a 0.1 percentage point decrease 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.
How many job openings are there in the US?
There were about 7.59 million job openings as of May 2026. The number of job openings increased by 284,000 from May 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 many people are laid off in the US each month?
There were about 1.71 million layoffs and discharges in May 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 long do people wait for subsidized housing in the US?
People waited two years and one month, on average, for subsidized housing in 2025. That’s a 7.4% decrease since 2024, when recipients spent 2 years and 3 months on waiting lists before moving in to subsidized housing.
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 much revenue does the federal government collect from tariffs?
The federal government collected $194.9 billion in revenues from tariffs in FY 2025. 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.
Are wages keeping up with inflation?
No. From May 2025 to May 2026, wages grew 0.5 percentage points slower than inflation. Nominal wages — the literal dollars earned regardless of cost of living — increased by 3.7% while inflation stood at 4.2%. When wage growth trails inflation, it indicates that workers are experiencing a decrease in purchasing power from the previous year.
What is the value of US trade overall?
$3.43 trillion in exports and $4.36 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.
Is the US a bigger oil importer or exporter?
The US has been exporting more oil and petroleum products than it imports since August 2021.
How much debt does the US have?
The US has $39.2 trillion in debt as of May 2026. 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.
The history and impact of 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.
What are the biggest drivers of inflation in the past year?
Housing was the main driver of inflation from May 2025 to May 2026. As of May 2026, overall prices increased 4.2% 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 categories with lower weights. 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 $1,287 per week in May 2026, 0.5% 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.
What share of Medicaid costs do states pay?
The state share of Medicaid ranged from 17.9% in New Mexico to 40.3% in Wyoming in fiscal year (FY) 2023. On average, states paid 31.1% of the overall spending on the health insurance program, with the rest coming from the federal government.
Just the Facts about the US economy
How does the government measure the economy? By tracking GDP, unemployment numbers, and the prices people pay for goods and services.
US Federal Taxes: How the US Federal Government is Funded
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?
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 money does the US federal government collect?
About $5.26 trillion in fiscal year (FY) 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.
What is the US poverty rate?
The poverty rate was about 10.6% of the US 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, 35.9 million people lived in poverty.
How much does the US federal government spend?
The federal government spent $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 many households in the US spend too much on housing?
About 42.5 million households were cost-burdened 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 is the current inflation rate in the US?
The inflation rate was 4.2%, as of May 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.
How much foreign aid does the US provide overall?
About $85.8 billion in aid was obligated for fiscal year (FY) 2024, the most recent fully-reported year. Another $46.1 billion has been reported for FY 2025, and $4.31 billion was reported for FY 2026.
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.
How much US government debt is owned by other countries?
As of March 2026, about 23.9% of US government debt, or $9.35 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.
How are Americans doing financially?
In 2025, nearly a third of US adults reported being worse off than in 2024, with 91% stating that price increases were their main financial concern.
What is the money supply, and how does it relate to inflation?
How much money is there? The Federal Reserve keeps track.
What do Americans think of the economy?
In 2025, roughly one-fourth of adults described the national economy as good or excellent, down 3 percentage points from 2024.
How many people skip medical treatment due to healthcare costs?
In 2025, dental care was the most frequently skipped form of medical care, with 18% of American adults forgoing treatment.
How 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 below to track the value of the dollar. See how a dollar 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.
What kinds of jobs do young people have?
Over half of young people ages 16 to 24 have jobs in the leisure and hospitality, retail, or education and health services industries.
What the Personal Consumption Expenditures Index (PCE) says about the US
Closely monitored by the Federal Reserve, personal consumption expenditures are an economic indicator that provide greater insight into how Americans earn, save, and spend.
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 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 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 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.