UNDER THE HOOD: An extraordinary look at what's going on in the US economy right now

Two things are true about the US economy: It is adding jobs and growing.

Economic growth over the last few years has been just so-so, though GDP is still growing about 2% annually.

Meanwhile, the labour market is on fire, with the economy adding more jobs in 2014 than any year since 1999.

But under the hood of the economy, we can see that consumer spending isn’t as poor as some monthly retail data may indicate, government spending is a net negative to economic growth, and healthcare costs are just through the roof.

On Friday, the folks over at floatingpath.com, an economics and finance blog, posted this comprehensive overview of the US economy and have allowed us to run the slides below.

Every day of every week of every month we get a ton of data thrown at us, but take a look through these slides and you’ll get a broad and complete picture of what’s going on in the economy right now.

Thanks to Nick at floatingpath.com for letting us run these slides. You can follow Nick on Twitter here »

Overall employment is surging.

Floatingpath.com

There are job openings everywhere.

Floatingpath.com

But jobs growth data is just ok.

Floatingpath.com

And a number of industries still have overall employment below pre-crisis peaks.

Floatingpath.com

Job growth is all about services.

Floatingpath.com

Part-time employment slowly becoming a preference, not a mandate.

Floatingpath.com

Youth unemployment is still above average.

Floatingpath.com

Unemployment insurance claims are near a record low.

Floatingpath.com

Jobless claims have traditionally led the economy.

Floatingpath.com

The big unemployment picture.

Floatingpath.com

Unemployment is only higher than last year in one state.

Floatingpath.com

Labour participation is broadly lower.

Floatingpath.com

Average workweek and wage growth have been flat.

Floatingpath.com

Disposable income is growing at a steady rate.

Floatingpath.com

Household net worth is increasing.

Floatingpath.com

Financial assets as a share of total assets are near a record high for US households.

Floatingpath.com

Student loan debt is growing.

Floatingpath.com

The government has been behind most of the post-crisis credit expansion.

Floatingpath.com

Consumers are feeling good again.

Floatingpath.com

People are driving again. Big time.

Floatingpath.com

Construction activity is slowly coming back.

Floatingpath.com

But housing activity is still way below pre-recession levels.

Floatingpath.com

Home sales are sort of meh.

Floatingpath.com

Home price growth is levelling out.

Floatingpath.com

And still below pre-crisis levels.

Floatingpath.com

We're a nation of renters now.

Floatingpath.com

Industrial production is slowing down.

Floatingpath.com

While manufacturing and trade sales have turned negative over last year.

Floatingpath.com

'Hard' business data looks worse than 'soft' business data.

Floatingpath.com

Restaurants are crushing grocery stores.

Floatingpath.com

How Americans spend their money.

Floatingpath.com

Disinflation, charted.

Floatingpath.com

Healthcare costs are through the roof.

Floatingpath.com

'Lower for longer.'

Floatingpath.com

There's plenty of money in the system, it's just not going anywhere.

Floatingpath.com

The Fed's balance sheet has ballooned.

Floatingpath.com

Consumption is moving along.

Floatingpath.com

Private investment is slowing making a comeback.

Floatingpath.com

The government has been a drag.

Floatingpath.com

The trade balance had been improving... until recently.

Floatingpath.com

What you need to know.

Floatingpath.com
Floatingpath.com

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