Tech Stocks Outpaced Tech Jobs
In May 2026, tech stocks vs the S&P 500 continued rising – up 247% since January 2006. Meanwhile, tech payroll share continued falling – down 22%.
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AI Economic Signals
Tech Stocks Outpaced Tech Jobs
In May 2026, tech stocks vs the S&P 500 continued rising – up 247% since January 2006. Meanwhile, tech payroll share continued falling – down 22%.
AI Economic Signals
US Tech GDP Share Nears Record
In Q4 2025, the tech sector hit 5.61% of US GDP – the second-highest since 2005. It is now less than 0.1 percentage points from its Q2 2020 peak.
AI Economic Signals
Business Applications Breakout
In May 2026, business applications hit 523,971 - up 17% YoY. High-propensity applications hit 146,555 - up 4% YoY, lagging the broader breakout.
AI Economic Signals
US Productivity Growth Picked Up
In Q1 2026, US productivity growth reached 2.8% year-over-year. After the pandemic-era swing, it turned positive in Q1 2023 and has stayed positive.