economy
February 18, 2026
The 'boomcession': Why Americans feel left behind by a growing economy
A combination of the words "boom" and "recession" can help explain why Americans feel so sour about a growing economy.
TL;DR
- The term 'boomcession' combines 'boom' and 'recession' to describe the disconnect between positive economic data and negative consumer sentiment.
- While GDP and the stock market are high, many Americans experience financial hardship, high debt, and believe the country is in a slowdown.
- Inflation impacts different income groups unevenly, with lower earners facing higher price increases on essential goods like groceries and shelter.
- The job market presents a 'hiring recession' or 'jobless boom' where openings are low despite overall economic activity, affecting non-asset owners more severely.
- Worker compensation as a share of GDP has fallen to new lows, while corporate profits have grown, widening the gap with employee pay.
- Despite positive economic growth, consumer spending is increasingly driven by the wealthiest Americans, leaving many feeling excluded.
- Skepticism towards government economic data is growing, with many Americans believing the economy is in recession despite official reports.
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