Just The Facts...

The Goshen News is pleased to be adding a new monthly feature in collaboration with USAFacts.org, a non-profit, non-partisan online initiative that collects, organizes, and disseminates government statistics in an easy-to-understand format.
Where Will You Be Doing Your Holiday Shopping?
At the turn of the 21st century, only $0.90 of every $100 Americans spent on retail items was spent online. In 2023, that average was $15.30.
Now, nearly a quarter of the way into the 21st century, the internet has transformed industries in all sectors of the economy, and retail is no exception.
What percentage of shopping happens online?
In 2023, Americans spent $1.1 trillion on online retail, or a record 15.3% of the $7.2 trillion spent on retail overall. This is nearly a full percentage-point increase from 2022, when 14.4% of retail sales happened online.
Source: Federal Reserve Data
What were the biggest drivers of inflation in the past year?
Data updated November 18, 2024
From October 2023 to October 2024, mostly housing. During that time frame, housing price increases accounted for three-fourths of the overall inflation rate. The inflation rate is calculated using the Consumer Price Index (CPI), which tracks the price changes of a consistent basket of goods and services over time. As of October 2024, overall prices increased 2.6% over the previous year. Each item in this basket is given a weight that reflects how much the average urban household spends on it. Items with higher weights, like shelter, tend to have a larger impact on the overall inflation rate than other categories. By examining the price changes across different categories, we can better understand the factors contributing to the current inflation rate.
What is the current inflation rate in the US?
Data updated November 17, 2024
About 2.6%, as of October 2024. Inflation refers to the rise in prices of goods and services over time, which reduces the purchasing power of the dollar. The inflation rate is the percentage that describes how quickly these prices are rising. While several government datasets track price changes, the Consumer Price Index (CPI) represents the spending habits of people living in urban areas, or about 90% of the US population. The CPI measures inflation by tracking the price fluctuations of a “basket of goods and services” over time, providing a clear picture of how inflation affects everyday living expenses.
What is the unemployment rate in the US right now?
Data updated November 17, 2024
About 4.1% in October 2024. That's a 0.3 percentage point increase from a year before. The unemployment rate is the percentage of people in the labor force who are actively looking for work but not currently employed. It's a common way to measure the health of the job market and economy.
What is the federal government’s budget deficit?
Data updated October 29, 2024
About $1.7 trillion deficit in fiscal year (FY) 2023. A budget deficit occurs when the federal government spends more money than it brings in through taxes, customs duties, the sale of assets, and other revenues. When the government has a deficit, it borrows money by selling bonds and other securities in order to pay for it, adding to the national debt. A budget surplus, on the other hand, occurs when the government brings in more money than it spends.
The federal government has had a budget surplus in 12 nonconsecutive years since 1933, the most recent occurring in FY 2001. The federal government uses the fiscal year for its budgeting and financial reporting. The federal fiscal year begins on October 1 and ends September 30 the following year. FY 2023, for example, began on October 1, 2022, and ended on September 30, 2023.