10 charts that show why the economy feels so bad - even though it sounds so good
Leon Neal/Getty Images
- By most major indicators, the US economy is doing pretty well right now.
- But many Americans feel left out of the apparent boom.
- We put together 10 charts that help illustrate that divergence.
- Visit Business Insider's homepage for more stories.
Although there are some clouds on the horizon hinting at a possible recession, most of the major US economic indicators are pretty strong right now.
Economic growth is steady, the unemployment rate is extremely low, and the stock market has massively rebounded since the last financial crisis.
But despite that, many Americans feel left out of the apparent boom. Rising costs and debt, stagnant wages, and high and rising inequality create a sense of a two-track economy, where the winners get richer and everyone else has to run faster just to stay where they are.
Here are 10 charts that break down why people are struggling, even when the economy appears so strong.
Many of the top-line metrics used to judge how the US economy is doing look pretty good right now. Gross domestic product, a broad measure of overall economic activity, has been growing steadily for years, although recent revisions suggest that growth was not as robust as originally believed.
The unemployment rate has been steadily dropping since the end of the Great Recession. It is now lower than it has been in decades.
In the last several years, the economy has steadily added around 200,000 jobs per month.
Other measures of labor market health, however, have been improving in recent years — but they suggest a somewhat less rosy picture.
But many Americans haven't seen the advantages of a growing economy.
Another big factor in why the economy might not feel as good as it looks is the rising cost of entering and staying in the middle class.
One of the consequences of that rise in college tuition is a massive increase in student debt.
Other costs have skyrocketed in recent years as well. Inflation for medical care since the turn of the century has been much higher than overall inflation.
Another factor contributing to why the economy doesn't feel as good as it could is rising income inequality.
Inequality has also gotten worse in the US in the last several decades.
- People want bigger homes and reopening offices, schools hasn’t altered this trend
- Prime Minister Modi says extension of free ration scheme will benefit crores during the festive season
- Central government employees given 4% hike in DA ahead of Diwali
- Jewellery chains are growing at the cost of standalone jewellers – and it’s only going to get worse, says World Gold Council report
- To beat the traffic of Bangalore, you can now book a 12-minute helicopter ride
- Amazon Festival Sale
- Rice and Pulses
- IIT Guwahati
- Apple Tablets in Amazon Sale
- Biggest Billionaires
- Sundar Pichai
- Home Loan
- Vinod Shantilal Adani
- Amazon Festival Sale
- Accenture earnings forecast
- India's Richest People
- Best 5G Smartphone
- Upcoming Smartphone in 2022
- Top 10 Colleges in India
- Top 10 Airlines in World