1. Unemployment Is at Historic Lows
On paper, the U.S. unemployment rate hovering around 4% looks like an economic slam dunk. Politicians and economists point to it as proof that jobs are abundant and the economy is thriving. But if you ask a real person, they might tell you they’re working two part-time jobs without benefits just to scrape by. Technically employed, sure—but thriving? Not so much.
The problem is that the unemployment rate doesn’t count people who’ve given up looking for work or those stuck in gig work. That means millions aren’t reflected in this rosy stat. You’ll find plenty of folks working full-time hours without full-time security. So while the headline sounds great, the lived experience tells a different story.
2. GDP Is Growing
Gross Domestic Product keeps climbing, and that’s supposed to mean we’re all getting richer. Government press releases celebrate quarter after quarter of economic expansion. But for many people, especially renters and middle-class families, it feels like they’re running faster just to stay in place. Their paychecks don’t seem to stretch any further, no matter how high the GDP soars.
That’s because GDP growth doesn’t account for who’s benefitting. A booming economy can still leave huge swaths of the population behind. It’s possible for corporate profits and stock prices to skyrocket while average Americans drown in debt. So yes, the pie is bigger—but that doesn’t mean you’re getting a bigger slice.
3. Inflation Is Cooling
The Consumer Price Index has finally started to come down from its 2022 highs. Officials have said inflation is “under control,” and the Fed has even begun hinting at interest rate cuts. But if you’re standing in a grocery store aisle staring at $6 for eggs, you’re probably wondering what planet they’re talking about. Just because prices aren’t rising as quickly doesn’t mean they’ve gone back down.
In fact, many costs—like food, rent, and car insurance—are still way above pre-2020 levels. The inflation rate slowing doesn’t mean affordability has returned. For regular people, “cooling inflation” feels like a cold comfort when your wallet’s still bleeding. It’s the difference between “less bad” and “actually better”—and that’s not the nuance most headlines convey.
4. Stock Market Hits Record Highs
Wall Street has had a great run lately, with major indices like the S&P 500 and NASDAQ reaching new peaks. It’s held up as a barometer for the health of the economy. But most Americans don’t actually own meaningful stock, outside of maybe a 401(k) they can’t touch. So while the rich see their portfolios balloon, the average person sees… nothing.
In fact, more than 80% of stocks are owned by the wealthiest 10% of Americans. The stock market going up might make the news look rosy, but it doesn’t do much for someone whose rent just went up $300. It’s a win for investors, not necessarily workers. So yeah, it’s great—if you already have money.
5. Wages Are Rising
Yes, average wages have gone up over the past few years. But when adjusted for inflation, the picture gets murkier. Many workers have seen their real purchasing power shrink even as their nominal paycheck ticks up. Earning more doesn’t mean much if everything costs more too.
Plus, those gains aren’t evenly spread. High earners and tech workers saw big increases, while many service workers saw little to no change. If you’re a teacher, a warehouse worker, or a barista, you probably aren’t feeling that “wage growth.” It’s like giving someone a raise and then doubling their rent.
6. Consumer Spending Is Strong
Consumer spending keeps climbing, and that’s usually a sign of economic confidence. But scratch the surface, and you’ll find a lot of that spending is fueled by debt. Credit card balances in the U.S. have hit record highs, and delinquencies are creeping up. People aren’t buying because they’re flush with cash—they’re buying because they don’t have a choice.
Food, gas, and utilities still have to be paid for, whether your paycheck covers it or not. Americans are charging everyday expenses just to get by. So yeah, spending is up—but so is financial anxiety. Ask someone about their credit card bill, and you’ll see a very different side of the story.
7. Poverty Rates Are Low
According to official data, the national poverty rate has fallen. That’s often touted as proof that government programs and economic growth are working. But official poverty thresholds are so low that many struggling families don’t even qualify. Try supporting a family of four on $30,000 a year and see if that feels like “not poor.”
The Supplemental Poverty Measure—which accounts for real expenses—tells a more sobering story. When pandemic-era assistance ended, poverty surged, especially among children. Many families are just one emergency away from disaster. So when you hear “poverty is down,” it depends entirely on how you define “poverty.”
8. Job Openings Outnumber Job Seekers
The narrative here is that anyone who wants a job can find one. And it’s true that there are more job openings than unemployed people, according to federal data. But many of those jobs are low-wage, part-time, or physically demanding with no benefits. So people aren’t lazy—they’re just not desperate enough to take exploitative work.
Also, the skills gap is real. A job that wants five years of experience and a master’s degree for $17 an hour isn’t helping anyone. You’ll hear folks say, “Nobody wants to work anymore,” but the reality is more like, “Nobody wants to work for peanuts.” The numbers may look great, but the labor market isn’t as healthy as it seems.
9. Corporate Profits Are Booming
American corporations have posted some of their biggest profits in history recently. That’s presented as a sign that the economy is humming along. But at the same time, many of those companies are laying off workers and hiking prices. So if profits are up, why is everything else getting worse?
A big part of the answer is price gouging and shareholder enrichment. Companies raised prices “because of inflation” and never brought them back down—even as supply chain costs fell. Meanwhile, workers are being asked to do more with less. So while Wall Street cheers, Main Street seethes.
10. Home Prices Are Stabilizing
Housing reports show prices have plateaued or even declined slightly in some markets. That might sound like a relief after years of red-hot growth. But for most would-be buyers, affordability has actually worsened thanks to high interest rates. A stable price doesn’t mean much if your mortgage payment is through the roof.
Ask a first-time homebuyer what the market feels like, and you’ll probably hear frustration. Down payments are huge, monthly payments are higher, and competition remains fierce. Stabilization is not the same as accessibility. The market may be cooling, but it’s still freezing people out.
11. Energy Prices Are Down
Gas prices have dropped from their 2022 highs, and that’s often used to signal relief for households. But energy bills overall—including electricity and heating—have continued to rise in many parts of the country. Utilities have quietly crept up, and extreme weather makes usage less optional. So lower gas prices don’t always equal lower costs.
Energy price trends also depend heavily on where you live. In some states, electricity prices jumped more than 10% in the last year. People on fixed incomes feel that increase immediately. So while the national average might look good, the personal impact is all over the place.
12. Interest Rates Are High “Because the Economy Is Strong”
The Fed says they’ve kept interest rates high because the economy can handle it. In theory, that means consumer demand is robust and employment is strong. But in practice, high rates make borrowing unaffordable for ordinary people. Credit card interest, mortgage rates, and car loans have all hit painful levels.
For someone trying to buy a home, start a business, or just carry a balance on a credit card, this isn’t a sign of strength. It’s a barrier. The wealthy might benefit from better yields, but the average person just feels stuck. So when they say the economy is “resilient,” you have to ask: resilient for who?
13. The U.S. Dollar Is Strong Globally
The strong dollar is often framed as a symbol of American economic dominance. It’s great for travelers and importers—but not so great for people who rely on exports or remittances. A strong dollar can hurt U.S. manufacturing and farming by making American goods more expensive overseas. It can also drive up the cost of living in countries that depend on the dollar.
And for the average American? You’re probably not feeling any benefits at all. Unless you’re planning a European vacation, it’s just another economic stat that sounds nice but means nothing at the checkout line. Once again, the macro looks fine, but the micro feels very different.
This post 13 Economic Reports That Sound Great Until You Talk to a Single Real Person was first published on American Charm.
