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The U.S. GDP expanded from $17.5 trillion in 2014 to $26.5 trillion in 2024, marking a 51% increase.

Source: (U.S. Bureau of Economic Analysis, World Bank)

Insights: This growth was largely driven by the technology sector, which contributed $2.3 trillion in 2024 alone, and consumer spending, which accounted for over 68% of GDP in 2024.

The economy added 20 million jobs, lowering the unemployment rate from 6.2% in 2014 to 4.0% in 2024.

Source: (Bureau of Labor Statistics, U.S. Census Bureau)

Insights: States like Texas and Florida led with job growth, each adding over 3 million jobs. In 2024, the healthcare sector alone employed 22 million Americans, showing a 14% increase from 2014.

The S&P 500 index surged by 140%, rising from 2,050 in 2014 to 4,920 in 2024.

Source: (S&P Global, Federal Reserve)

Insights: This increase reflects strong corporate earnings, with the technology and healthcare sectors contributing over 45% of total market capitalization. The market's growth added $20 trillion in value, benefiting 55% of U.S. households who own stocks.

Median annual wages increased only 12%, from $45,200 in 2014 to $50,600 in 2024, while inflation rose by 21%.

Source: (U.S. Bureau of Labor Statistics, U.S. Census Bureau)

Insights: This stagnation left 50% of American workers with real wages lower than a decade ago, particularly affecting low-income workers in retail and service sectors.

The top 10% of earners saw their income grow by 26%, while the bottom 50% saw only a 4% increase.

Source: (U.S. Census Bureau, Economic Policy Institute)

Insights: Meanwhile, the bottom 50% saw only a 4% income growth, widening the income gap, especially in high-cost states like California and New York.

U.S. federal debt doubled from $17.8 trillion in 2014 to $35 trillion in 2024, a 97% increase, pushing the debt-to-GDP ratio to 132%.

Source: (U.S. Treasury Department)

Insights: This surge was driven by tax cuts, increased military spending, and pandemic-related expenditures.

Between 2014 and 2024, the U.S. economy grew by 51% and created 20 million jobs, yet wage stagnation and rising income inequality affected millions of Americans.

Source: (InHouse America)

Insights: Promoting American-made products can help sustain local economies, offering stability to households impacted by slow wage growth and rising living costs.

InHouse America doesn't endorse anyone but focuses on creating awareness of the importance of supporting small businesses and which administration is best for doing so!