The past several quarters have shown that the US economy is gaining strength. GDP is up, consumer spending is high, construction spending is rising dramatically, and employment is up. Put it all together, and it paints a picture of an economy booming dramatically—one that will help the bottom half of the US.

GDP ticked down in the quarter ending July 2026, but it remains on an uptrend that would be envied in most pre-COVID times. The economy had been cooling off after the breakneck gains of the COVID reopening and slowly entered its soft landing. Since then, several factors have powered growth: tech spending on data centers, deficit spending, and manufacturing.

While GDP ticked down, GNP ticked up—showing that companies are making money even when they do it overseas.

Manufacturing orders are at records. Manufacturing employs a small share of US workers, but it has a multiplier effect throughout the economy. You need construction workers, managers, technicians, and truckers to move these goods. These jobs are so good that Korea had one of its best years ever, and the KOSPI smashed records before falling back to Earth. Why do you think countries overseas fight so hard against tariffs?

Gross private savings are up and continue to climb, indicating that Americans are doing better. Those savings will come in handy if the economy takes a turn, and they’ll let people buy the dip when confidence returns to the market.

The economy is doing so well, in fact, that inflation has begun reheating and is pushing the Fed to raise rates. As rates rise, the housing market will cool further and help scuttle inflation even if the economy keeps booming. And if housing doesn’t cool inflation, AI and automation certainly will, as mature tech companies and startups offer better products at faster rates.

Even Net International Investment appears to have finally bottomed out as companies pour trillions of dollars into the US. If the trend continues, it will power the US economy for years to come. China’s massive trade surplus helped build the largest account surplus in the world. A large trade deficit would help the US government as rising debt concerns show up in the bond market—and would help the bottom half of the population really feel that they’re benefiting from this boom.

Total business sales are the best they’ve been in 15 years, not counting COVID’s spike.

Even with all this spending, people still don’t feel they’re participating in the best the economy has to offer. The bottom 20% have turned into the bottom 50%. Slowly rising wages and higher home prices have wreaked havoc across the US, making home ownership completely out of reach for so many people. Highly skilled jobs are available, but there’s a disconnect between high school and these jobs, as employers are not struggling to find people to work in fast food.

Still, real unemployment (U6) is falling fast. Tech workers are struggling to get jobs after being decimated by H1-B visa holders undercutting their pay, and tech companies are shedding employees hired during the boom.

Initial claims for unemployment are near their lowest since the large drop during COVID. This reflects that massive deportations are allowing people who do get laid off or fired to find new jobs.

Even continuing unemployment claims are at lows that will drive the economy. So while tech employment struggles and many families are being separated, the general public should be looking for better employment.