Although the U.S. economy overall continues its expansion following the Great Recession and associated financial crisis, the recovery can look very different from state to state. The lion’s share of economic gains are not only concentrated at the top of the income and wealth distribution, but also in a small share of regions. While some parts of the country have surged ahead, millions of Americans in urban and rural communities are still waiting for their wages to start rising again and struggling to make ends meet.

In the wake of today’s Gross Domestic Product (GDP) release, it is important to remember that large gains for a small group can keep total income growing, even while many or even most Americans see their incomes stagnate or shrink. Republicans will likely trumpet this as a sign that the tax cuts are working to improve the economy for all Americans. But it is important to think about what it actually does, and doesn’t, tell us about the economy. GDP is a measure of the total income generated in a year by the U.S. economy, but the whole doesn't always tell us enough about the parts.