But the US also just hit a record 13 straight years without 3% real GDP growth
While the US has had a record period of economic expansion, it's not setting the world on fire. It’s been a record 13 straight years without reaching 3% real gross domestic product growth.
The US has come close, hitting 2.9% growth in 2018, but America hasn't hit a real GDP growth of 3% since 2005, when it grew 3.5%.
The previous record stretch? Four years to start the 1930s, a dark time in the US economy following the 1929 stock market crash. By 1934, real GDP growth was going gangbusters, growing 10.8% that year.
The decade-long expansion has generated 20 million jobs
With economic growth stretching the past decade, key figures continue to get better. A 3.4% year-over-year wage growth is the strongest in more than a decade, a good sign as stagnant wages have kept the US middle class at bay.
However, some stats indicate a more somber storyline. The amount of part-time workers desiring full-time work grew, while some major employers, like big-box retailers and construction companies, shed jobs.
About $100,000 separates the middle class from the upper class
In 2011, 51% of Americans were considered middle class, and that number grew slightly to 52% in 2016.
The wealth disparity between the middle and upper classes, however, grew quite significantly. The median income of middle-class households grew from $74,000 to $78,000, while the upper class saw median incomes rise from $172,000 to $189,000.
Generation Z might spend as much as $143 billion next year
Generation Z, the population born between 1997 and 2012, will make up 40% of US consumers by next year. Those consumers are expected to contribute as much as $143 billion in direct spending, which will cause plenty of retailers headaches as they figure out how to deal with the changing habits of a generation raised on the internet and with mobile devices.
If California were a country, it would have the fifth highest GDP in the world
The United States is the world's largest economy, made up of 50 economically diverse states.
Some of those states have large enough economies on their own that they'd rank pretty high on their own, especially California. If the Golden State were its own nation, the economy would be the fifth largest in world, surpassing the United Kingdom's GDP last year.
With a gross domestic product of $2.747 trillion, California would only trail Germany, Japan, China, and the US as a whole.
Texas and New York are massive on their own, as well, ranking No. 11 and No. 13 worldwide, respectively.
A sports-industry report back in 2015 predicted the market in North America would be worth more than $73.5 billion by this year. That includes media rights that were expected to rise to $20.6 billion this year.
The rise of sports betting and esports could have significant impacts on those figures.