I'll look at current data on how Americans' lives are changing across the economy and everyday costs.
Whether Americans' lives have improved under President Donald Trump's second term depends on which metrics and which groups are examined - data show a mixed and divided picture.
Economy and Paychecks
•Nominal wages are up, but real gains are limited by inflation. Average hourly earnings for production and nonsupervisory workers increased from $30.84 in January 2025 to $32.53 in August 2026- roughly 5.5 percent.
•Inflation is still rising. Consumer prices were 3.4 percent higher in July than a year earlier. Energy prices increased 14.7 percent over the past year, including a 24.6 percent increase in gasoline.
•When adjusted for inflation, the gains largely disappear. Analysis of Bureau of Labor Statistics data found average hourly earnings rose 6.1 percent from December 2024 to August 2026, but the CPI rose 6.1 percent as well. "Real wages have been flat over the past 20 months – negative thus far in 2026".
•Other analysis found average hourly earnings grew 3.2% over the past 12 months while headline inflation was running at 3.4%, "that means the typical American worker's paycheck buys less than it did a year ago".
•There is conflicting data on 2025: The Census Bureau reported median household income was $87,460 in 2025, up 2.6 percent from 2024 in inflation-adjusted terms, and that real household income in 2025 was the highest dating back to 1967. Real labor earnings for full-time, full-year workers grew 2.1 percent.
The White House presents a more positive economic assessment, stating overall inflation fell and "real wages grew by $1,400 in President Trump's first year in office", that Americans' real wages are on track to rise by 4.2% in the first full year, that housing inflation continues to cool and prescription drug prices actually fell in 2025.
Critics point to other costs:
•Groundwork Collaborative estimated the average family paid over $1,600 more than the year before due to inflation in 2025.
•The nonpartisan Tax Foundation estimated tariffs cost the average household $1,000 in 2025 and are expected to rise to $1,300 per household in 2026.
•A Joint Economic Committee estimate said if tariff revenue stays at the level recorded in January 2026, American families will pay more than $330 billion in tariff costs in 2026, an average of more than $2,500 per family.
•A Penn Wharton Budget Model analysis cited by analysts projects the tariff policies will reduce long-run GDP by approximately 6% and wages by 5%.
Jobs and Labor Market
•Unemployment remains relatively low. Employers added 162,000 jobs in August — substantially better than the average monthly gain during the previous 12 months.
•The unemployment rate was 4.0 percent in January 2025 versus 4.1 percent in August 2026- described as slightly higher.
•Other indicators are less positive. In Michigan, for example, the labor force declined by 143,000 people between July 2025 and July 2026.
•These numbers measure what happened during Trump's second term. They don't establish that Trump or his policies caused every change.
Presidents don't directly determine mortgage rates, gasoline prices, stock prices, wages or grocery prices, which are also influenced by the Federal Reserve, global markets, businesses, Congress and consumer demand.
Assets vs. Wages
•The S&P 500 has gained more than 11 percent so far in 2026. That benefits investors but ownership is uneven - about 34 percent of families in the bottom half of the income distribution own stocks, compared to 95 percent among the highest-income 10 percent.
As one Labor Day 2026 analysis summarized: "Workers have bigger paychecks, but rising prices have consumed much of those gains", and "There isn't one economy experienced equally by every American".
Border Security and Crime
The administration highlights border and crime as major achievements:
•Border encounters down 95%, with over 100,000 criminal deportations cited
•The administration says it "established the strongest border in history, and restored American sovereignty" and that it "drove violent crime to historic lows".
Polling suggests border security and crime remain Trump's top strengths relative to other issues, though confidence in his handling of the economy has waned according to recent surveys.
How Americans Say They Are Affected
Public opinion is divided and overall negative on personal impact:
•In a July 2025 AP-NORC poll, 49% of adults feel Trump's policies have done more to hurt them. One quarter feel Trump's policies have helped, and another quarter say they have not been impacted.
•58% disapproved of Trump's job as president overall and 40% approved in that July 2025 survey.
•More recent approval tracking in September 2026 shows a net approval of -19.5, with approval in the 33% to 40% range depending on pollster, including a Reuters/Ipsos result showing 33% approval, its lowest level.
In short:
•Supporters point to higher nominal wages, low unemployment, a rising stock market, lower border encounters, deregulation savings, and White House claims of falling inflation and rising real wages.
•Critics and some independent data point to flat or negative real wage growth in 2026, higher energy and living costs, tariff-related household costs, a slightly higher unemployment rate, and polling where more Americans say policies have hurt rather than helped them.
For many households, the assessment comes down to individual circumstances - whether income comes mainly from wages versus investments, housing status, and exposure to prices for energy, food and housing.