Economy Explained

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CRYPTOCURRENCY BASICS

UNDERSTANDING THE GDP

HOW IS UNEMPLOYMENT TRACKED?

Save For Your Future

new normal after covid19 epidemic smart asian female wear protection mask hand use smartphone communication in department store new lifestyle abstract blur background.

12 Must-Have Features All the Best Bank Accounts Offer

Zelle vs. Venmo apps on smartphone display screens

Venmo Is Riddled with Scams – Is Zelle Any Safer?

People wearing protective face masks and keeping social distance in line at ATM.

How the Pandemic Has Changed Banking – Maybe Forever

Couple signing a document on a meeting at insurance agent office wearing protective gloves and face mask.

These Are the Best Banks of 2021 – Did Yours Make the Cut?

Oprah Winfrey smiling

10 Billionaires Like Oprah Winfrey Who Grew Up Poor

Shot of a smiling young woman using laptop on kitchen counter.

10 Simple Habits of Money-Smart Individuals

Hamilton, Canada - May 22, 2016: Large houses, luxury cars and mature trees in the downtown historic neighbourhood of Dundas in Hamilton, Ontario, Canada.

18 Resolutions To Get Rich in 2021

Hamilton, Canada - May 22, 2016: Large houses, luxury cars and mature trees in the downtown historic neighbourhood of Dundas in Hamilton, Ontario, Canada.

18 Resolutions To Get Rich in 2021

Save For Your Future

More About the Economy

St. Louis Missouri at sunset

Best and Worst States for America’s Middle Class

Although the middle class has remained pretty stable in size since 2011, the wealth gap between higher-income households and middle-income Americans has only widened over the years, according to a…

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Chicago, Illinois is one of the best cities for Communication Majors

30 Places in America That Are Getting Poorer

America has changed significantly since the end of the 1960s, but one of the changes with the greatest impact has been the economic shift away from a manufacturing economy and toward a service-based…

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What the Unemployment Rate Means for You and the Economy

The Bureau of Labor Statistics (BLS) reports the unemployment rate on the first Friday of every month. It's up there with the GDP (gross domestic product) as one of the most important indicators of…

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group of friends spending time together at the beach.

The Real Value of $100 in Every State

It's no secret that a $100 bill can be stretched much further in some states than others. Most people know you'll get a lot more for your money in Mississippi than Hawaii, but you might not realize…

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Aerial View on Saint Julien and Spinola Bay at Dawn, Malta - Image.

The 50 Richest Countries in the World

GOBankingRates ranked the top global economies based on GDP per capita. Find out the results, including which nation was named the richest country in the world.

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climate change

See Joe Biden’s Plans for the Shocking Costs of Climate Change

The topic of climate change has become a political football, with both Republicans and Democrats arguing that they have the better solution to the problem. Regardless of how the U.S. addresses the…

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Coronavirus vaccine.

4 Things to Watch in the Markets Friday

As we close out what seemed, on its surface, to be a promising week for the U.S. economy, Americans still have a number of financial concerns, including the impending end of unemployment relief…

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Raleigh, North Carolina, USA downtown as viewed from the Capitol Building grounds.

Most Surprising Cities To Live In If You Want To Make a Lot of Money

Concrete jungles like New York might have lucrative career options, but take a look at these cities where you can earn a surprisingly sizable paycheck.

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UBER IPO stock hype in 2019

8 Successful Companies That Were IPO Flops

An initial public offering (IPO) is the most popular way for a company to enter the public market — there have been already more than 300 IPOs in 2020 so far. Though there are clear incentives to an…

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5 Staggering Hospital Bills From COVID-19 Patients

During a global pandemic, not getting medical treatment isn't an option. If someone's feeling ill or worried that they might have contracted COVID-19, it's important to get tested immediately. And if…

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Mandatory Credit: Photo by Charlie Neibergall/AP/Shutterstock (10755267h)Rod Pierce looks at grain drying bins on his farm that were damaged in the derecho earlier this month, near Woodward, Iowa.

The Midwest’s 25 Biggest Weather Disasters

The United States is one of the most disaster-prone nations in the world. Whether it's from droughts, floods, hurricanes, tornadoes or wildfires, climate and weather systems result in loss of life…

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Portsmouth, New Hampshire, USA townscape.

Best and Worst States to Be Poor in America

Being poor is never easy, but your environment plays a big role in just how challenging it can be. Living in the wrong area can mean basic costs like groceries or housing are higher than they need to…

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Family Returning Home From Shopping Trip Using Plastic Free Bags Unpacking Groceries In Kitchen.

How Much Middle-Class Families Earn in Every State

What is considered middle class? It takes more money than you might think to reach this income tier. Pew Research Center defines middle-class or middle-income households as those with incomes that are…

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Dealer New Cars Stock.

Car Manufacturers That May Not Survive the Coronavirus Pandemic

Automakers are experiencing a historically difficult time. The coronavirus pandemic has both made it hard to safely manufacture vehicles and dried up demand for new cars. With car companies reeling,…

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Salt Lake City is the capital and the most populous municipality of the U.

States Least Prepared for the Recession

Many American families and economists alike are often guessing as to when the next recession will hit the U.S. — and what will cause it. There are key indicators that could help predict the current…

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Shops and storefronts on a main street in the  small town of Cairo, Georgia.

The Richest Small Town in Every State

When you think of richest locations in the U.S., places like San Francisco, New York and Beverly Hills might come to mind. But prosperity and affluence aren't only thriving among the glitz and glamour…

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Albany New York Capital building

States That Spend the Most and Least on Welfare

With the cost of living rising in many parts of the country, state and local governments are spending billions of dollars on public welfare. The total spending on public welfare — which includes…

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rows of cotton field

The No. 1 Product in Each State Hit Hardest by the Trade War

The ongoing saga of the trade dispute between China and the United States doesn't appear to be ending anytime soon. In fact, plenty of prognosticators are expecting the current conflict to stretch on…

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Closeup view of United States One Cent Pieces, original start dates, placed on American Flag.

19 Fascinating Facts You Never Knew About the Penny

The penny seems like just a simple coin, but there's a lot more to it. Take a look at the history of pennies and the many little known facts about it.

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Larry Chester chief financial officer racing a Porsche

5 People Who Lost Everything in the Financial Crisis and How They Bounced Back

There’s no question that the 2008 financial crisis hit America hard. Find out how five people who lost everything in the recession turned their lives around and took control of their finances.

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Xenia Ohio Tornado funnel

10 of the Worst Tornadoes in History

The U.S. experiences about 1,200 tornadoes per year, according to the National Oceanic and Atmospheric Administration. And 10 of these extreme weather events — some of which reach decades back –…

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1906 San Francisco Earthquake California

California’s 25 Biggest Earthquakes

With the recent earthquakes near Ridgecrest, California, talk of the "big one" and quake awareness are once again reaching epic proportions in the earthquake capital of the United States. Researchers…

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Pikes Place Market on waterfront in Seattle Washington at dusk

New Study Shows the Huge Impact Gentrification Is Having on Residents in These Cities

Gentrification is the influx of a group of wealthier people into an existing urban area, which causes an increase in property values and rental rates, as well as possible changes to the area's…

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women working in an office in 1933

Incredible Ways Women’s Finances Have Changed Over the Last 100 Years

Women have made great strides since winning the right to vote. Keep reading to see the incredible ways women's finances have changed over the last 100 years.

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Antalya, Turkey - May 12, 2013: Harley Davidson is Americas greatest manufacturer of motor cycles.

Ford and 13 Companies Who Lost Over $1 Billion to Trump’s Trade War

The economy czar of the People's Republic of China will visit Washington, D.C. at the end of January to continue talks aimed at putting a halt to the ongoing trade war between China and the United…

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back view of prison guard leading criminal in handcuffs.

America Spends Much More on Prisoners Than Students — Here’s Why

The U.S. makes up only 4.4 percent of the global population, yet it holds nearly a quarter of the world's prisoners. Over the last 40 years, American prison populations have skyrocketed by 500…

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Apple job growth

20 Companies That Create the Most American Jobs

These companies are bringing new jobs to cities across the United States.

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Day view of Chicago with buildings reflection on the water.

States With the Strongest Economies in 2018

If you're planning to relocate, for your career or any other reason, a state's economy can be a big deciding factor in where you choose to live. Economic strong points alone, however, don't make a…

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Photo of a Residential Neighborhood with Houses and Rooftops in the Inglewood area of Los Angeles, California, USA, shot from above.

LA’s New, $2.6 Billion NFL Stadium Is Driving Up Home Prices In This Neighborhood

The Los Angeles Rams and Chargers have a new home. And it's raising the prices of all those around it.

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Cleveland, Ohio park

These Cities Are Getting Poorer — But Are They Affordable to Live?

There was a time in this country when cities like Buffalo, N.Y., Cleveland and Detroit were capitals of industry. Companies in those cities employed tens of thousands of workers in automotive and…

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Bottom view of modern skyscrapers in business district in beautiful evening light at sunset with monochrome retro vintage Instagram style filter and lens flare effect.

How These 9 Banks Are Quietly Running the American Economy

There are few industries that have a greater impact on your everyday life — whether you realize it or not — than banking. That ranges from the small community banks where you go to get a…

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Bottom view of modern skyscrapers in business district in beautiful evening light at sunset with monochrome retro vintage Instagram style filter and lens flare effect.

How These 9 Banks Are Quietly Running the American Economy

There are few industries that have a greater impact on your everyday life — whether you realize it or not — than banking. That ranges from the small community banks where you go to get a…

READ MORE
Pikes Place Market on waterfront in Seattle Washington at dusk

New Study Shows the Huge Impact Gentrification Is Having on Residents in These Cities

Gentrification is the influx of a group of wealthier people into an existing urban area, which causes an increase in property values and rental rates, as well as possible changes to the area's…

READ MORE
Perspective shot of hundreds of US hundred dollar bills.

Experts Predict How Long Cash Will Survive

Remember when you had to pay for nearly everything with cash? Probably not if you are a baby boomer, Gen Xer, millennial or younger. Checks have been commonplace since World War II. Credit cards have…

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Satellite over earth

How Much Money in Old Satellites Is Floating Up in Space?

What do you call a landfill when there's a rather notable absence of land involved? Space might be the final frontier, but it's also the last stop for nearly 1,900 tons of junk. From tiny fragments…

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Visitors at 1600 PA Avenue, the most famous residence in the United States.

It’s Trump’s 2-Year Anniversary in Office: Here’s How American Finances Have Changed

Politics have certainly become livelier in the U.S. since President Donald Trump was elected to office in November 2016. But cutting through all the noise — such as Russian election tampering,…

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close up of dollar bill stuck in sloping sand, concept image of financial crisis and related currency turmoils.

How Much Climate Change Will Steal From Your Pocket This Year

When the Fourth National Climate Assessment was released on Black Friday, it presented a pretty grim outlook on the economic impacts of climate change. With the future bringing everything from longer,…

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close up of dollar bill stuck in sloping sand, concept image of financial crisis and related currency turmoils.

How Much Climate Change Will Steal From Your Pocket This Year

When the Fourth National Climate Assessment was released on Black Friday, it presented a pretty grim outlook on the economic impacts of climate change. With the future bringing everything from longer,…

READ MORE
Famous Wall street and the building in New York, New York Stock Exchange with patriot flag.

5 Experts Predict What Will Happen to the Economy in 2019

By most measures, 2018 was a banner year for the U.S. economy. Wages grew and the unemployment rate fell to an almost 50-year low. The gross domestic product increased at a rate of 4.2 percent in the…

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Shot of an attractive young woman looking thoughtful while using a digital tablet in a cafe.

Many Americans Have No Idea What Income Class They’re In

The middle class has traditionally been considered the pillar of American society and its economy. Throughout the era after World War II, incomes in the United States increased for all classes of…

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Kids and father playing soccer on a beautiful summer afternoon outdoors.

What It’s Really Like to Be in America’s Middle Class

A recent GOBankingRates study identified the best and worst states for families and people who are in the middle class. The worst states for the middle class tend to have expensive real estate and…

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Mandatory Credit: Photo by REX/Shutterstock (9663811m)United States President Donald flies aboard Marine One as it takes off from the South LawnDonald Trump departs White House en Route to Ohio, Washington DC, USA - 05 May 2018President Trump traveled to Cleveland, Ohio to speak at Public Hall ahead of state primary elections.

Check Out Trump’s New Limos and Helicopters — They Cost You Billions

Tax dollars are at work with upgrades to the president's limousine fleet and Air Force helicopters. President Donald Trump's redesigned $1.5 million Cadillac is unlike anything you can buy off the…

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The United States Capitol building at twilight wirth reflection in water.

States With the Most and Least Amount of Debt

Some Americans have student debt they'll be paying off for decades. Others have low-paying jobs keeping them in a vicious cycle of credit card debt just to make ends meet. They all are struggling with…

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The United States Capitol building at twilight wirth reflection in water.

States With the Most and Least Amount of Debt

Some Americans have student debt they'll be paying off for decades. Others have low-paying jobs keeping them in a vicious cycle of credit card debt just to make ends meet. They all are struggling with…

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woman walking through park in NYC

20 Richest States in America

Is there a relationship between a state's wealth and how much its residents get paid? To figure this out, GOBankingRates first determined the richest states in America based on five factors: GDP per…

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Tesla car show in Beijing China

New China-Imposed Tariffs Hit Tesla Hard

Tesla prices have surged thanks to the trade war between the U.S. and China. CEO Elon Musk revealed plans to open a Tesla factory in China. Tesla is feeling the heat in the ongoing trade battle…

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Engineering climb up to oil and gas process plant to observer gas dehydration processing in night shift.

The Most Profitable Industry in Every State

America's 50 states have unique cultures, landscapes and exports. The top industries in some states export less than $100 million worth of goods annually. In other states, the top export is worth tens…

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