2018 OECD Economic Surveys: United States 2018

image of OECD Economic Surveys: United States 2018

The current expansion in the United States is one of the longest on record. Economic growth since the financial crisis has also been amongst the strongest in the OECD. Robust job growth has helped bring people into employment and reduce the unemployment rate. Partly as a result, material wellbeing is high and Americans are doing well on average in comparison with residents of other OECD counties. The near-term outlook for growth is strong, partly as a result of substantial fiscal stimulus. In the longer run, improving the business environment would help sustain growth, by reanimating firm creation and productivity growth. Labour force participation rates of prime age workers are relativley low and have only recently begun to recover from the decline after the crisis. Job losses have become more persistent in areas hit by adverse structural shocks, contributing to the decline in participation. In addition, changing jobs has become more difficult over time, which is a concern with the potential for automation and globalisation to disrupt local labour markets. Labour market participation is also adversely affected by opioid addiction, which also costs many lives, harms livelihoods and entails significant public healthcare spending.


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Basic statistics of United States

(Data refer to 2017 or latest available. Numbers in parentheses refer to the OECD average)*

The Survey is published on the responsibility of the Economic and Development Review Committee, which is charged with the examination of the economic situation of member countries. The economic situation and policies of the United States were reviewed by the Committee on 18 May 2018. The draft was revised in the light of the discussion and given final approval as the agreed report of the whole Committee on 31 May 2018. This Survey was prepared in the Economics Department by Douglas Sutherland under the supervision of Patrick Lenain. Damien Azzopardi provided the statistical research assistance and Stephanie Henry provided editorial support. The Survey also benefited from contributions by Julien Daubanes, Ola Eltoukhi, Octavio Escobar, Fozan Fareed, Aimi Abdul Ghani, Stephanie Guichard, Nirosha Varghese and Pierre-Yves Yanni.The previous Survey of the United States was issued in June 2016.Information on other Surveys and how surveys are prepared is available at www.oecd.org/surveys.


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