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.
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?
What is the poverty rate in the US?
About 11.1% of the population as of 2023. 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 2023, 36.8 million people lived in poverty.
Updates annuallyHow 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.
Who pays the most income tax?
The federal government generated $4.9 trillion in revenue in fiscal year 2024, nearly half of which came from taxing people on their incomes. Individual income taxes in FY 2024 totaled $2.4 trillion, or $7,166 per person.
Jun 25, 2025Federal farm subsidies: What the data says
In 2024, the government provided $9.3 billion in subsidy payments to farmers for commodity crops. Subsidies made up 5.9% of total farm earnings that year, with the most funding going to corn, soybeans, and cotton. What are farm subsidies?Farm subsidies, also known as agricultural subsidies, are financial support from the federal government to farmers and agricultural businesses. Subsidies help farms deal with disaster relief, risk management, the development of specific farming practices, conservation efforts, and more. The federal government has been providing farm subsidies since 1933, when the first Farm Bill was passed as part of the New Deal to support struggling farms during the Great Depression, the Dust Bowl, and falling crop prices after World War I. This bill created a system that issued payments to farmers in exchange for producing certain commodity crops; at the time, these included wheat, cotton, field corn, swine, rice, tobacco, and milk. The Farm Bill is standing legislation that Congress re-visits approximately every five years as farming, farming needs, and what’s considered a commodity, shift. The most recent Farm Bill was passed in 2018. Today’s commodity crops include corn, soybeans, wheat, cotton, sorghum (a type of grain), rice, peanuts, oats, barley, milk, swine, and calves (specifically, cows).How much farm income comes from subsidies? Farm subsidies have added an average of $17.6 billion to farm income each year from 1933 to 2024, adjusted for inflation. The lowest total was in 1949, at $2.4 billion: subsidies dropped post-World War II in part because agriculture shifted from shortage to surplus, reducing the need for government aid. The highest was in 2020, at $55.3 billion, primarily due to pandemic-related aid.
Jun 23, 2025What does it cost the IRS to collect taxes?
The Internal Revenue Service (IRS) spent $16.1 billion to collect $4.7 trillion in taxes in 2023. In other words, it cost the agency 34 cents to collect $100. Collecting trillions of dollars from a population of 336 million people and around 35 million businesses is no small project. The IRS’s staff of 82,990 people collects and evaluates returns, issues refunds, offers taxpayer assistance, oversees tax-exempt organizations, and enforces tax law.
Jun 13, 2025What does the US produce?
In 2024, the US produced $29.2 trillion in goods and services. This is the total of what each industry and government sector contribute to the economy, and it’s called value added. Value added is calculated by subtracting production costs (materials, services, work pay, taxes) from the value of the goods and services created. It makes up the gross domestic product (GDP), the standard measure of a country’s economy. What goods and services does the US produce?Over four-fifths (83.3%) of value added to the US economy in 2024 was via services, for a total of $24.3 trillion. Services include housing and utilities, transportation, financial services and insurance, healthcare, recreation, food services and accommodations, and others.
Jun 11, 2025Minimum wage in America: How many people are earning $7.25 an hour?
Although the federal minimum wage is $7.25 an hour, the minimum an employer must pay depends on the state in which the employee resides. Many states have mandated minimum wages that are different from the federal minimum
Jun 3, 2025Americans aren't saving as much as they used to
Americans saved an average of 4.6% of their disposable income in 2024. So far in 2025, that average is lower: 4.4%.In fact, the average personal saving rate today is lower than it was in the 2010s — and even the 1960s.What is the personal saving rate?The Bureau of Economic Analysis (BEA) defines the personal saving rate as how much money American households put away — in a checking or savings account, an individual retirement account, or an employer-sponsored 401(k), to name a few — after paying expenses and taxes. The personal savings rate only measures cash saved and doesn’t include capital gains like an increase in value of a house. The BEA, a division of the Department of Commerce, measures and tracks this rate monthly. How has the personal saving rate changed over time?The personal saving rate in the 1960s and 1970s averaged 11.7%, peaking at 17.3% in May 1975. It’s gradually declined since then, reaching an all-time low of 1.4% in July 2005.
May 30, 2025What are free trade agreements and how do they affect trade?
Free trade agreements are strategic partnerships between countries that trade with each other by reducing barriers to entry to the international market for producers, standardizing labor practices, and ensuring affordability and safety for consumers, and more.Compared to a trade war, free trade agreements are like peace treaties — they’re meant to bring countries into alignment and promote a fair and harmonious relationship that promotes trade and is mutually beneficial for all countries involved.What do free trade agreements do?Free trade agreements aim to keep international markets open and flexible for consumers and domestic industries by:Reducing trade barriers like tariffs. This lowers the cost of imports, keeping prices lower and giving consumers more purchase optionsProtecting intellectual property rights of domestic producers. Limiting competitive opportunities on proprietary products preserves access to international markets for domestic industries.Developing product and labor practice standards across markets. This protects consumers by ensuring that imported products are safe and meet the same kinds of standards as their domestic alternativesProtecting against exclusionary rules around investing or participating in financial markets
May 30, 2025How much do teachers get paid in the US?
About $63,000 per year in 2024. That’s the median annual 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 $46,800 or less, while the highest-paid 10% earned $102,000 or more.
What are the biggest drivers of inflation in the past year?
From May 2024 to May 2025, mostly housing. During that time frame, housing price increases accounted for three-fourths 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 May 2025, overall prices increased 2.4% 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.
Updates monthlyHow many US businesses are owned by immigrants?
The Census Bureau categorizes businesses as either nonemployer (where the owner is the only employee) or employer (which have one or more employees beside the owner). Immigrants own nearly a fifth of all employer companies and almost a quarter of nonemployer businesses — higher than their percentages of the US population or the workforce generally.
May 9, 2025What is the gross domestic product (GDP) in the US?
About $23.5 trillion in Q1 2025. Gross domestic product (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 $23.5 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.
Updates quarterlyWhat is the unemployment rate in the US right now?
About 4.2% in May 2025. That's a 0.2 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 monthlyHow many cars are built in the US?
Automakers produced 12.86 million vehicles in the US in 2022, according to the Department of Energy, which tracks car manufacturing numbers by year and type of car. That number reflects a pandemic-related dip in production trends. From 2015 - 2019, car manufacturers produced 16–17 million vehicles per year.What types of vehicles are built in the US?Of the vehicles produced in 2022, SUVs made up the biggest portion at 6.97 million (54% of the total for that year). Cars accounted for 3.41 million (27%). Pickup trucks were at 2.11 million (16%), followed by vans at around 374,000 (3%).
May 2, 2025Who is the American farmer?
According to the Department of Agriculture (USDA), there are 3.4 million agricultural “producers,” or the farmers and workers involved in making decisions from planting to harvesting to marketing on these farms. Among them, 63.7% of are male, 63.2% are ages 55 or older, 95.4% are white and 84.7% work on family-held farms. More than 1.9 million farms dot the nation, covering 880.1 million acres. That's more than twice the size of Alaska.What is the difference between a farmer and a farmworker?The latest USDA agricultural census defines the 3.4 million “producers” as the farmers and workers involved in making decisions from planting to harvesting to marketing on these farms. This category could refer to the farm’s owner, a member of the owner’s family, a manager, a tenant, a renter, or a sharecropper. The USDA also makes a distinction between producers and employees known as farmworkers. Farmworkers are hired labor and have a variety of occupations ranging from field crop workers to sales agents and truck drivers. Data in this article focuses on producers.
May 1, 2025How many civilian jobs are in the US federal government?
About 2.96 million, as of May 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 159.6 million nonfarm jobs in the US, 1.9% 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 monthlyWhich states contribute the most and least to federal revenue?
In 2023, the federal government collected around $4.67 trillion from states and their residents through taxes on individuals and businesses and redistributed about $4.56 trillion back to states and residents through programs like Social Security, Medicaid, Medicare, food stamps, and education grants.The balance varies by state: New Yorkers paid about $89 billion more to the federal government than they received, while Virginians received about $79 billion more than they paid.
Apr 22, 2025How 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 that legalize the drug 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.
Apr 18, 2025What 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 annuallyWhat is the labor force participation rate in the US?
It was 62.4% in February 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.
Is there a shortage of air traffic controllers?
The Federal Aviation Administration (FAA) controls 290 air control facilities. And as of September 2023, nearly half of them were understaffed. In 2023, the FAA established a 85.0% staffing goal for terminal air control facilities. One-hundred and twenty eight of them fell short of that target. Meanwhile, 162 facilities met or exceeded the staffing goal. Fifty-two had staffing levels of more than 100%; this was partially due to intentional overstaffing of new hires to account for expected attrition over the next two or three years. How understaffed were the facilities that fell short of the goal? Eighty-four had staffing ranges between 75.0% and 84.9%. The remaining 44 were staffed to 74.9% capacity or less.In 2024, the FAA employed more than 14,000 air traffic controllers.
Mar 31, 2025What is the federal government’s budget deficit?
About $1.7 trillion deficit in fiscal year (FY) 2023.. 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 does the US federal government spend?
About $6.8 trillion in fiscal year (FY) 2024. This averages about $19,900 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.
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 monthlyAre wages keeping up with inflation?
Yes. From April 2024 to April 2025, wages grew 1.8 percentage points faster than inflation. Nominal wages — the literal dollars earned regardless of cost of living — increased by 4.1% while inflation stood at 2.3%. When wage growth outpaces inflation, it indicates that workers are experiencing an increase in purchasing power from the previous year.
Updates monthlyWhich states have the highest and lowest income tax?
The average American paid $1,613 in state income taxes in 2022. Depending on which state you live in, you might be paying more, less, or nothing at all. What is state income tax? States collected state income taxes from residents annually. These are separate from federal income taxes, which are paid to the federal government. States commonly use income tax revenue to fund services and programs for: Education: supporting K–12 (teacher and administrator salaries) and higher education (state community colleges and universities) Healthcare: operating state-specific initiatives and state-administered programs like Medicaid Corrections: building, maintaining, and operating state prison systems Transportation and infrastructure: building and maintaining roadways, bridges, airports, and public transit systems Public assistance: providing cash or benefits to individuals or families, including childcare services, transitional housing, and job training The amount of state income tax someone owes depends on their income level and their state’s tax rate. Some states have a flat tax rate, so everyone pays the same percentage of their income in taxes no matter how much they earn. Other states have a progressive tax rate, meaning that people who earn more pay a higher percentage of their income in taxes. And other some states have no income tax at all.
Mar 28, 2025What is the average wage in the US?
About $1.23K per week in March 2025, 0.8% 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 monthlyWhat is the current inflation rate in the US?
About 2.4%, as of May 2025. 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.
Updates monthlyWhat is the value of US trade?
$3.23 trillion in exports and $4.14 trillion in imports in 2024. According to the Office of the US Trade Representative, trade fuels economic growth, supports domestic jobs, raises living standards, and makes goods and services more affordable.
Updates monthlyWhich states have the highest and lowest rates of homelessness?
About 771,000 Americans experienced homelessness in January 2024 according to Department of Housing and Urban Development (HUD) point-in-time data, which measures homelessness across the US on a single night each winter. That’s an 18% increase from 2023. Nationally, approximately 22.7 people out of every 10,000 experienced homelessness during the 2024 count. Mississippi had the lowest rate of homelessness, at 3.5 people per 10,000, while in Hawaii, the rate was more than 20 times that — 80.5 per 10,000. In the District of Columbia, comprised entirely of the city of Washington, 80.0 people experienced homelessness for every 10,000.
Feb 28, 2025How many homeless people are in the US? What does the data miss?
Around 23 out of every 10,000 Americans — 771,480 people — experienced homelessness in January 2024 according to the Department of Housing and Urban Development (HUD) annual point-in-time report, which measures homelessness across the US on a single night each winter. That’s an 18% increase from the same report in 2023.
Feb 28, 2025How many households in the US spend too much on housing?
About 41.8 million in 2023. That’s 32.8% 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 homeownership rate in the United States?
About 65.9% in 2023. Nearly 2 out of every 3 households owned their home while the remainder rented.
How much wealth does the American middle class have?
Around $12.8 trillion, or around 8% of all household wealth in the US in Q3 2024. 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 $480,000 in wealth.
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.
How much foreign aid does the US provide?
About $79.5 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.
Updates monthlyHow many people are laid off in the United States each month?
About 1.8 million in April 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.
Updates monthlyHow many job openings are there in the United States?
About 7.4 million, as of April 2025. The number of job openings decreased by 228,000 from April 2024. 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.
Updates monthlyHow much debt does the US have?
About $36.2 trillion as of May 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 monthlyHow 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.
Why does daylight saving time exist?
The ritual of changing the clocks twice a year to get more daylight has been in place for more than 50 years. But debates in state legislatures and Congress show that there’s some interest in stopping the process. At least 45 states have considered or passed legislation to shift to permanent daylight saving time or permanent standard time. The Sunshine Protection Act, which would move the US to permanent daylight saving time, has been introduced to Congress several times, beginning in 2018. It was introduced again in 2021 where it passed in the Senate but died in the House, and was introduced most recently in 2025. When does daylight saving time start and end? In 2025, daylight saving time starts on Sunday, March 9, and will end on Sunday, November 2. It will begin again on Sunday, March 8, 2026, and run through Sunday, November 1, 2026.
Feb 26, 2025What does the Department of the Treasury 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 Office of Personnel Management 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 Department of Transportation 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 annuallyHow do national parks affect the economy?
In 2023, the 325 million visitors to national parks spent an estimated $26.4 billion dollars. Visitors spent this money in what the National Park Service (NPS) calls a “local gateway region,” or local economies near a national park. A local gateway region includes nearby towns and counties where park visitors usually stop to shop or stay overnight. For most parks, it’s defined as all counties within 60 miles of the park’s boundary. Adjusted for inflation, 2023 visitor spending was the highest in a decade. The second-highest was 2019 at $25.03 billion. But right after that came 2020. The biggest single-year spending drop was from 2019 to 2020 — when the COVID-19 pandemic restricted visits to national parks and related spending had its biggest single year drop, down 31.8% to $17.07 billion.
Feb 21, 2025How do men and women use time differently?
People’s priorities and obligations are driven by factors like age, family situation, employment, and other demographics. Gender is another key factor: 2023 government data shows that the average man tends to spend more time on paid work, while women spend more time on unpaid labor like housework and caregiving than men do. What activities do men and women spend time on? In 2023, employed men ages 15 and over spent 7.47 hours each weekday on paid work and work-related activities, while women spent about an hour less — 6.52 hours a day. Combining paid work with typically unpaid labor like cooking, cleaning, and caring for family members gives us a more comprehensive measure of total labor performed and brings men and women closer in terms of hours or labor: 8.78 hours for men, and 8.86 for women. While employed men and women perform around the same amount of all types of work, men spent more time on paid labor.
Feb 12, 2025What are tariffs and how do they work?
What is a tariff?Tariffs, sometimes called duties or customs duties, are taxes on goods that are traded between nations. When goods cross the US border, Customs and Border Protection (CBP) collects tariffs based on the type of goods, their quantity, and which country they’re coming from. Why do countries use tariffs? Tariffs are a way for countries to control international trade. By artificially raising the cost of importing goods, tariffs can incentivize would-be importers to instead purchase goods from domestic sellers, potentially strengthening the local economy. Politics can also play a role: governments can adjust tariffs to exert economic leverage over political rivals or retaliate against other tariffs or economic sanctions. Tariffs also generate revenue for importing countries, though in developed countries and in today’s global economy, they tend to be used more to achieve foreign policy goals than financial ones. Who pays for tariffs? In a literal sense, companies that are importing goods from international trade partners pay the tariff fees to CBP at the port of entry within 10 days. When the US raises tariffs, US companies importing goods are responsible for paying those tariffs.But as an economic policy, tariffs have implications beyond the money exchanged at the border. According to the Bureau of Labor Statistics (BLS), this indirectly raises domestic prices on goods as supply-and-demand forces often push the burden onto consumers in the importing country.
Feb 4, 2025Which industries employ the most immigrant workers?
In 2023, close to a fifth of the workforce was foreign-born: out of the 160.2 million people in the US workforce, about 29.7 million were immigrants. That’s an increase from 2010, when immigrants made up 15.6% of the workforce. Immigrants are employed across industries, with concentrations in education, health, and professional services. Which industries employ the most immigrants?Educational and health services employed the most immigrants— 5.5 million, or 18.4% of all foreign-born employees in 2023. This is followed by professional and business services with 4.7 million (15.8%) and construction with 3.3 million (11.1%).
Jan 29, 2025Why might prices feel high if inflation is slowing?
Inflation has eased since a 2022 peak, but an estimated three-quarters of American adults are still concerned about coming price increases. While the inflation rate has dropped to 2.9% as of December 2024, Americans are feeling the lasting impact of a historic spike. How is inflation trending? After rising to a 40-year high of 9.1% in June 2022, the inflation rate trended down for much of 2023 and 2024, falling to a low of 2.4% in September 2024 before ticking up over the next few months. The declining inflation rate means prices have been rising at a more gradual pace, and this can in turn mean less stress on consumers.
Jan 28, 2025Is bird flu impacting egg prices?
Avian flu cases have emerged in flocks of both commercial and wild birds since 2022, contributing to spikes in egg prices, which crossed $4 a dozen in late 2024. What is the avian flu? Highly Pathogenic Avian Influenza (HPAI), commonly called the bird flu, is the general term for a group of viruses that usually spread between birds but can also infect mammals, including humans. The symptoms include those usually associated with the flu: fever, cough, sore throat, aches, and fatigue. With bird flu in particular, conjunctivitis is also common. The health risk for humans is low — 67 people contracted bird flu in 2024, resulting in one death, and there hasn’t been any person-to-person spread — but the H5 strain of bird flu has been impacting America’s commercial poultry flocks on a large scale, and is now spreading among herds of cows.
Jan 23, 2025Which states have the highest police officer salaries?
Police officers in California had higher salaries than officers in any other state in 2023, earning a median of $113,460, according to the Bureau of Labor Statistics (BLS). The other highest-paying states were Washington ($99,510), Illinois ($98,430), New Jersey ($91,850), and Alaska ($90,060). Salaries weren’t this high across the board, though — the national average was $72,280. After accounting for cost-of-living variance among states, California remains the highest-paying state. Illinois and Washington swap the second and third spots, and Pennsylvania rises from ninth to fifth.
Jan 22, 2025Which Americans are struggling to make ends meet?
More than one-third of American adults are struggling to make ends meet, and some demographics groups are having more trouble than others: in a 2024 Census survey, nearly half the multiracial population reported having a hard time, along with 46.0% of Hispanics and 40.0% of cisgender women. Just under 20% of adults said they found it somewhat difficult to afford their usual household expenses in the previous week, and 17.3% found it very difficult. The rest found it either a little (28.9%) or not at all (34.0%) difficult. Which age groups are struggling the most? Adults younger than 55 are having more trouble paying the bills than older adults. Over 40% of adults ages 18 to 54 reported at least some difficulty, compared to 36.4% of 55- to 64-year-olds and 23.2% of those 65 and older.
Jan 9, 2025How much land do wildfires burn in the US?
Wildfires burn over 7 million acres of land in the US annually, with fire suppression costing an average of $3.0 billion according to estimates from the National Interagency Fire Center. How many wildfires happen in the US? Since 1983, federal fire agencies have tracked 2.9 million wildfires across 216 million combined acres. That’s more than twice the area of California. From 2014 to 2023, an annual average of 62,277 wildfires have burned an average of 7.02 million acres. Total annual acres eclipsed 10 million three times in that period: in 2015, 2017, and 2020.
Jan 8, 2025How long do Americans stay at their jobs?
The average American worker has been at their job for just under four years, according to January 2024 data from the Bureau of Labor Statistics (BLS). Are Americans leaving their jobs earlier? Average job tenure, as measured by the median, dropped 15% between 2014 and 2024, falling from 4.6 years to 3.9. The last time it was as low as 3.9 was in 2002. From 1983 to 2002, the median job tenure was shorter than it is today. The BLS attributes the rise in the mid-2000s in part to an aging workforce — older workers tend to remain in their positions longer, bringing the median job tenure up. This underscores the drop since 2014, as the workforce has continued to age.
Dec 19, 2024How many people work for the federal government?
As of November 2024, the federal government employed just over 3 million people. The number of federal employees has topped 3 million since September 2024. The last time the government could claim that many employees was in September 1994. Federal employment numbers peaked at 3.4 million in 1990 and the most recent low was in 2014, with 2.7 million. Federal government employees work at departments or agencies housed under one of the three branches of government — executive, legislative, or judicial, though most federal agencies are under the federal executive branch. Across all US industries, it’s the 15th-largest workforce overall. How has the federal workforce changed over time? Between 1929 and 1945, the United States was grappling with the Great Depression and World War II. President Franklin D. Roosevelt introduced the New Deal in 1933, and over the next five years established numerous new federal agencies – agencies requiring people to staff them. Some agencies created during this period are still around, like the Social Security Administration and the Federal Deposit Insurance Corporation.
Dec 19, 2024How much money do Americans spend on holiday shopping?
If you can’t tell it’s the winter holiday season from the festive commercials, lights, and caroling, you can probably tell by your dwindling bank account balance. Americans spent an estimated $586.98 billion in the retail sector in December 2023, according to the Census Bureau’s Monthly Retail Trade Report. That’s about $1,750 per person, and a jump from the estimated $532.85 billion spent in November 2023. This is all slightly less than the December 2021 peak for retail and food sales: around $593.34 billion, 1.1% more than in 2023 (after accounting for inflation). Since 1992, people have spent more in December than any other month. November was the second-spendiest month for each year, except in 2008 and 2009.
Dec 4, 2024How 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 2023, that average was $15.30.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 2023, Americans spent $1.1 trillion on online retail, or a record 15.3% of the $7.2 trillion spent on retail overall. This is nearly a full percentage-point increase from 2022, when 14.4% of retail sales happened online.
Nov 26, 2024How much will Thanksgiving dinner cost in 2024?
If you’re hosting Thanksgiving dinner this year, your grocery bill may be similar to last year’s. It might even be cheaper.According to the Bureau of Labor Statistics’ (BLS) Consumer Price Index, grocery prices have increased 1.1% from October 2023 to October 2024, while overall prices have increased 2.6% over the same time period.But the prices of Thanksgiving staples, however, have decreased in that same time: Turkey and potatoes cost less than a year ago. Sauces and gravies, and pies, cost about the same. Biscuits, rolls, and muffins, meanwhile, cost 2.3% more than.
Nov 22, 2024What role do small businesses play in the economy?
Small business development in the US declined in the four decades before the pandemic — but since 2020, this chunk of the private sector has been driving the bulk of job growth.What’s considered a small business?The Small Business Administration (SBA) generally defines any independent business with fewer than 500 employees as a “small business.”How many small businesses are there in the US?Small businesses are 99.9% of all businesses in the US. As of July 2024, there are 34.8 million small businesses compared to 19,688 large businesses.These small firms employ 59.0 million people, or 45.9% of all private-sector employees, and are responsible for 61.1% of overall job growth since 1995.
Nov 22, 2024What are the fastest-growing professions in America?
Renewable energy production will drive much of American job growth over the next decade: According to the Bureau of Labor Statistics (BLS), wind turbine service technicians, solar photovoltaic installers, and nurse practitioner roles are expected to have the highest rate of growth by 2033.
Nov 8, 2024Are groceries more expensive than last year?
Grocery store food prices increased 1.3% from September 2023 to September 2024. That was less than the increase of 2.4% for commodities such as gasoline, utilities, consumer goods, apparel, medical services. It was also lower than the 2% FED inflation target, which is a long-term inflation target that aims to foster stable economic development.However, you may have deeply felt price changes depending on the meals you’re putting on your table.Which groceries cost more than a year ago?Out of nine grocery staples defined by the Bureau of Labor Statistics, the cost of a dozen eggs increased the most over last year, from $2.06 to $3.82, up 85.0%.Other grocery staples that cost more this year include beef, chicken, tomatoes, whole milk, and bread. Beef, chicken, tomatoes, and whole milk increased more than the 1.3% average for groceries. Beef prices increased the most (11.0%), then tomatoes (5.0%), chicken (4.1%), whole milk (1.4%), and bread (0.2%).
Nov 1, 2024How many people skip medical treatment due to healthcare costs?
In 2023, 27% of American adults skipped some form of medical treatment because they couldn’t afford it, according to the Federal Reserve. This is lower than the 32% who avoided care in 2013, when data collection began, but ties with 2015 and 2017 as the fourth-highest year on record.The probability of declining medical care seems to correlate with income: 42% of people with a family income under $25,000 skipped some medical treatment in 2023, compared to 12% of people with incomes over $100,000.
Oct 14, 2024Is the US a bigger oil importer or exporter?
In 2023, the US exported more crude oil and petroleum products than it imported.Petroleum and petroleum product exports totaled about 10.15 million barrels per day (b/d), while imports were about 8.53 million b/d resulting in a -1.7 million b/d difference.Crude oil is a fossil fuel. Petroleum products are made from refined crude oil and include things like jet fuel and gasoline.Prior to October 2019, the US consistently imported more petroleum and crude oil than it exported. October 2019 was the first month the exports exceeded imports. It’s been a net exporter in all but seven months since then.
Sep 24, 2024Who are the US’ top trade partners?
Combining imports and exports, the United States' top trade partner in 2023 was Mexico, with nearly $798 billion in goods and services exchanged between them.Following that were Canada ($773 billion) and China ($575 billion).These nations have been the US’s top three every annually at least 2009, accounting for 42% of all US trade in 2023.
Sep 4, 2024How long do people wait for subsidized housing in the United States?
Two years and one month, on average, in 2023. That’s a 42.1% increase since 2009, when recipients spent one year and six months on waiting lists before moving in to subsidized housing.
How do unemployment rates vary by state?
The national unemployment rate increased from 4.4% in June to 4.3% in July 2024 with an estimated 7.2 million people not working but looking for a job in July. This is up from when the national unemployment rate was 3.5% in July 2023.Which states have the highest unemployment rates?In July 2024, the highest unemployment rates were in Nevada (5.4%), and California, and Illinois (both 5.2%). Washington, DC, had an unemployment rate of 5.5%. Fourteen states had unemployment rates between 4.0% and 4.9%, while 20 had rates between 3.0% and 3.9%. The remaining 13 states had unemployment rates between 2.0% and 2.9%.The lowest unemployment rates were in North Dakota (2.2%), Vermont (2.1%), and South Dakota (2.0%).
Aug 30, 2024What is gross domestic product, or GDP?
Gross domestic product (GDP) is used to estimate the size of an economy. It is calculated as the value of all goods and services produced in that economy. In the second quarter of 2024, US GDP rose 3.0% to $28.65 trillion.How does GDP work?The amount something contributes to GDP equals the difference between the value of the materials used in its production and the value of the final product. In other words, GDP is the amount of value added in the production process.Imagine a simplified production process for a loaf of bread: Producing a loaf of bread requires the farmer who grows the wheat; the miller who turns it into flour, and the baker who transforms the flour bread. Counting the value of the wheat, flour, and bread separately overcounts the output of the activity, which is one loaf of bread. GDP calculations only measure the value of the final good or service and not the value of the intermediate steps to create a more accurate picture of what’s added to the economy.Why does the US government track GDP?The size of a nation’s GDP indicates its economic heft, and GDP growth or decline can be used as a measure of an economy’s health. GDP changes impact jobs, businesses, and investments. A growing GDP tends to indicate a productive economy, while a declining one is a common flag for economic recession. Measuring GDP across geographies and industries can be a useful tool for analyzing shifts in the economy, like the GDP growth in information technology during the rise of the internet in the 1990s.Tracking GDP movement allows policy makers, journalists, and researchers to understand how quickly the economy is growing or shrinking. It’s used by government entities for planning taxes and spending, hiring, investing, interest rates, and trade policy.When did the US begin measuring GDP?American economists first identified a need for national measures of economic health and production during the Great Depression. Economist Simon Kuznets of the National Bureau of Economic Research (NBER) led the team that developed the first versions of this calculation.In the US, GDP is calculated by the Bureau of Economic Analysis using data collected by both governmental and private sources, including the Census Bureau, Department of the Treasury, Federal Reserve, and Bureau of Labor Statistics, among others.What drives GDP growth?Four components contribute to GDP: Consumer spending on goods (products, like laptops and vegetables) and services (such as plumbers and hairdressers), business investments (like a farmer buying a tractor), government spending (on things like infrastructure or the military), and trade (net exports).The largest component is consumer spending on both goods and services (68% of GDP), followed by investments (18%) and government spending (18%). Recently, trade has negatively impacted the national GDP because the US has imported more than it’s exported; imports are larger than exports by a margin of -3% of GDP.
Aug 29, 2024What is the Consumer Price Index, and what does it mean for the economy?
Rising inflation can have a direct impact on the lives of Americans. It means increases in prices at grocery stores, gas stations, and retail shops, making it harder to afford their daily necessities, particularly if wage increases don’t keep up.Inflation is a phenomenon that can be reported using various measures, the most common of which is the rate of change in a measure called the Consumer Price Index (CPI).What does the CPI measure?The CPI, produced by the Bureau of Labor Statistics (BLS), measures changes in the prices paid by urban consumers (who are over 90% of the population) for a particular group of goods and services. The CPI looks specifically at the prices of apparel, education and communications, food and beverages, housing, medical care, recreation, transportation and other items in over 200 categories.What is the difference between CPI and inflation?The CPI is reported monthly alongside the “inflation rate,” which, though reported monthly, is a measure of percentage change in the CPI in the last year.What items does the CPI track?The BLS selects items for the CPI based on detailed information from Americans about what they buy, gathered through tens of thousands of weekly diaries and interviews with BLS employees. The Bureau calculates home prices and rent costs through surveys of people living in houses, apartments, and shared spaces. The index also includes user fees, such as for water and sewer service, and sales and excise taxes for specific items, like the extra tax governments impose on tobacco and alcohol.Tracking the price of cheeseWhen a new item starts coming up in those diaries and interviews, a data collector working for the BLS goes into a store and picks one of the most popular varieties to enter into the CPI sample. For example, when selecting cheese, the data collector will pick the most often bought cheese in the most often purchased size — say, a 6-ounce package of cheddar. That cheddar will then be tracked at the same grocery store every month to see if its price goes up or down. BLS data collectors track the prices of about 80,000 items each month. Every item stays in the sample until it’s rotated out after four years.The price change for each product in the sample is then given a weight based on its importance and Americans’ spending habits. Given the careful selection of products and the weight each is given, the BLS then estimates price changes for all kinds of, say, cheese in all grocery stores across the country.The BLS also publishes different CPI indexes that look just at specific geographic areas, as well as individual indexes for specific item categories.How has the CPI changed over time?The CPI has risen in the post-World War II period, sometimes quickly, sometimes slowly. Some notable outliers include the deflationary period from July to December 2008 during the Great Recession and from February to May 2020 during the COVID-19 pandemic.CPI grew by historically high rates during the late 1970s and early 1980s before slowing in the late 1980s and up until the current decade. Late 2021 through early 2023 was a period of high inflation; the annual rate in 2022 was its highest since the early 1980s.
Aug 29, 2024What is inflation and how is it measured?
In economic discourse, economists, government, and media often refer to the concept of inflation — general price increases in an economy.Inflation measures a nation’s economic wellbeing, in part because it reflects consumer experience — rising inflation means an increase in cost of living.What causes inflation?Inflation is a byproduct of supply-and-demand economics. Prices rise when the demand for goods and services outpaces the production of those goods and services, or when raw materials used in production and other “input goods” are in limited supply.As a result, the amount a dollar can buy is reduced over time. For example, imagine an item that cost $1.50 in 1920. After accounting for inflation, that same item would cost $9.80 in 1990 and $22.85 in 2023.How is inflation measured?There are many ways of measuring inflation, but one of the most common measures is the Consumer Price Index for Urban Consumers (CPI-U), which is produced by the Bureau of Labor Statistics. The CPI-U shows changes in the prices paid by urban consumers for a “representative basket of goods and services,” or the most common goods and services purchased on an average month based on detailed surveys of what Americans spend their money on. The urban consumer group represents about 93% of the US population.There are eight major purchase categories covered in the CPI-U:Food and beveragesHousingApparelTransportationMedical careRecreationEducation and communicationOtherNot all categories are considered equally when generating the overall measure of inflation — each category is assigned a “relative importance” based on its proportion of all expenditures. In the most recent CPI calculations, housing was weighted the most heavily.The overall CPI, also known as “headline” CPI, includes all items in more than 200 categories. Since food and energy categories are typically much more volatile than the other parts of the CPI, some choose to focus on a metric called the “core” CPI which excludes these two categories.
Aug 29, 2024What do Americans think of the economy?
The share of American adults that feel that the economy is in good shape is increasing, though still lower than before the COVID-19 pandemic.In 2023, 42% of American adults felt that their local economy was in good or excellent shape, up from 38% in 2022. The share of Americans assessing the state of the national economy as good or excellent rose from 18% in 2022 to 22% in 2023.The Federal Reserve produces an annual report on the economic well-being of US households, allowing for comparisons over time.How have Americans’ feelings about the economy changed?In 2019, 50% of adults felt that the national economy was in either good or excellent shape, while 63% thought the same of their local economy. In 2020, those sentiments dropped to 26% on the national level and 43% locally.Both figures hit low points in 2022 before ticking up in 2023.
Aug 28, 2024What do Americans think of their neighborhoods?
Three out of four Americans like where they live.According to survey data from the Federal Reserve, 76% of American adults were somewhat or very satisfied with their neighborhood in 2023.
Aug 27, 2024How many immigrants are in the American workforce?
Immigrants make up over 19% of the US workforce as of June 2024 — over 32 million out of a total of 169 million — and participate in the labor force at a higher rate than native-born workers, according to data from the Bureau of Labor Statistics (BLS).“Foreign-born workers” are people who “reside in the United States but who were not US citizens at birth. Specifically, they were born outside the United States (or one of its outlying areas such as Puerto Rico or Guam), and neither parent was a US citizen.” The BLS’s definition includes both legal and undocumented immigrants.How many immigrants are currently working in the US?There were 30.9 million foreign-born people employed in the US in June 2024. The total foreign-born labor force is 32.2 million people, including those who are employed and unemployed.That month, Foreign-born workers were 19% of the active labor force and 18% of the total possible labor force.
Aug 12, 2024Who owns American wealth?
In 2023, 97.5% of all net worth —totaling $139.4 trillion — was owned by the 50% of Americans with above-average net worth. The remaining 167 million Americans owned about 2.6% — or $3.6 trillion.
Aug 7, 2024How much does it cost to own a car?
In 2023, the annual cost of owning a car was approximately $12,182 for 15,000 miles of driving. This total encompasses both fixed costs such as insurance, registration, taxes, depreciation, and finance charges, and variable costs such as fuel, maintenance, and tires.What are the costs of owning a car?Owning and operating a car involves both fixed and variable costs. Fixed costs, also known as ownership costs, do not change based on how much you drive and include insurance, license, registration, taxes, depreciation, and finance charges. Variable costs, also known as operating costs, involve the physical aspects of vehicle operation and include gasoline, maintenance, and tires.
Aug 2, 2024Why are car insurance rates increasing?
Motor vehicle insurance covering damage, liability, and other risks is required for all drivers, across the US, with a few exceptions.Costs for this driver necessity been climbing since 2020, in part due to inflation driving up repair and part costs; between June 2023 and 2024, the price of personal motor vehicle insurance rose 19.5%.Additionally, motor vehicle insurers may be raising the cost of insurance due to rising repair costs and lower returns from insurers’ bonds.How much have insurance rates gone up?Insurance costs are rising faster than general inflation. The May 2024 Consumer Price Index data indicated that the motor vehicle insurance index — the change in insurance cost over time — was approximately 2.7 times higher than the nationwide inflation rate.What is the motor vehicle insurance index? This index tracks the changes in the cost of motor vehicle insurance over time. It considers the costs of physical damage, liability, and miscellaneous insurance coverage for private passenger vehicles.What is the US inflation rate index? This is a measure of the average change over time in the prices paid by urban consumers for a market basket of consumer goods and services — including the relative costs of a home, food, gas, and other commonly purchased items. The Federal Reserve aims to keep inflation around 2% to balance employment rates and price stability.
Aug 2, 2024What kinds of jobs do young people have?
More and more people from the ages of 16 to 24 are working, jumping into roles in fast food prep, waiting tables, and retail.Youth employment dropped from 2002 to 2012, but rose after that. People from Gen Z ages 16 to 19 began participating in the workforce at higher rates than teens in years prior, causing the youth employment rate to rise from 2012 to 2022.What kinds of jobs are common for young people?In July 2023, 54.8% of employed young people ages 16 to 24 worked in hospitality, retail, or education and health services industries.About a quarter of people in this age range had jobs in leisure and hospitality, the highest percentage of young people of any industry. This includes jobs like amusement park attendants, musicians and singers, fitness trainers, food preparation and servers, cooks in sit-down and fast-food restaurants, hotel and resort clerks, and waiters/waitresses.Another 17.6% of teens and young adults worked in in jobs including cashiers, customer service representatives, retail supervisors and managers, retail salespeople, and store clerks and order fillers.Education and health services employed 12.5% of young people, the third most of all industries. Jobs in education includes K-12 teachers, teacher’s assistants, and others. Jobs in health services include: home health aides, licensed practical and vocational nurses, and medical and health services managers.
Aug 2, 2024Tracking 2024 election contributions and spending
Between January 2023 and April 2024, US political campaigns collected around $8.6 billion for the 2024 House, Senate, and presidential elections. Over 65% of that money, about $5.6 billion, came from political action committees (PACs).Individual candidates have drawn over $2.0 billion, while party committees raised just over $929.9 million: $188.6 million for the Democratic National Committee, $130.1 million for the Republican National Committee, with the remainder coming from party committees at the local, state, and national level.So far, the 2024 campaigns have spent approximately $3.9 billion of total funds raised.
Aug 2, 2024