The Week in Charts (12/3/25)
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10 Things to Be Thankful For…
1) Falling Jobless Claims
US Jobless Claims have moved down to their lowest levels since August, indicating fewer people filing for unemployment insurance. While the labor market has undoubtedly been cooling, this is a good sign. In a recession, this number would be trending higher.
2) More Affordable Rents
US Rents were down 1.1% over the last year, the 30th consecutive month with a YoY decline.
If you’re currently renting and waiting to purchase a home, here’s the good news: renting a home is now cheaper than paying a mortgage in all 50 of the largest metros in the US. And the average monthly cost to buy a home is 40% higher than the cost to rent.
3) Record Household Net Worth
Household net worth in the US has increased by over 6x in the past 30 years to a record $160 trillion.
4) No Recession This Year
The odds of a 2025 US recession on Polymarket have moved from 66% down to 2% over the past eight months.
There’s still a backlog of unreleased data due to the government shutdown, but the Atlanta Fed is projecting a strong 3rd quarter growth number with US real GDP rising 3.9%.
5) A Diversified Economy
The table below shows the 30 best performing stocks in the S&P 500 over the past 30 years.
Besides the eye-popping returns, what stands out?
The many different industry groups that are represented, from Automobiles to Aerospace, Health Care Equipment to Household Durables, and Specialty Retail to Semiconductors.
This is great to see because it means a much more resilient economy (not dependent on just one industry) than in the past, leading to fewer downturns. It also provides more opportunities for workers to find a career path that is most suited to their abilities and interests.
6) One of the Greatest Comebacks in History
On April 8, the S&P 500 was down 15% on the year, the 4th worst start to a year in history. But the year didn’t end there, and what we’ve witnessed since then is one of the greatest comebacks in history. From its closing low on April 8, the S&P 500 has gained 37%, and is now up over 16% on the year (17.5% including dividends).
7) Record Earnings & Profit Margins
S&P 500 operating earnings are on pace to hit another record high in 2025, up 13% over the last year. That’s nearly double the historical earnings growth rate since 1989.
S&P 500 profit margins rose to 13.6% in the 3rd quarter, their highest level in history.
8) Record # of 401(k) Millionaires
There are now 654,000 401(k) millionaires at Fidelity alone, a record high and more than double the number from three years ago.
9) Capitalism and Compounding
Here are the S&P 500 ETF’s total returns over the last…
- 1-Year: +15%
- 2-Years: +53%
- 3-Years: +75%
- 5-Years: +100%
- 7-Years: +173%
- 10-Years: +294%
- 15-Years: +631%
- 20-Years: +684%
- 30-Years: +1,790%
10) Rising Real Wages
After a record 25 consecutive months of negative real wage growth, wages have now outpaced reported inflation on a YoY basis for 29 straight months. This is a great sign for the American worker that hopefully continues.
And that’s it for this week. Thanks for reading!
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Disclaimer: All information provided is for educational purposes only and does not constitute investment, legal or tax advice, or an offer to buy or sell any security. Read our full disclosures here.
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