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2020 OECD Economic Surveys: United States 2020

image of OECD Economic Surveys: United States 2020

The coronavirus pandemic has hit the US economy hard. Fiscal and monetary support measures were rapidly deployed and there remains space for further policy support, if needed. However, with the shuttering of many businesses, unemployment has surged and many have left the labour force. Bringing people back into work quickly is important as the recession risks leaving behind a long-lasting negative economic impact. Occupational licensing and non-compete agreements are impediments to moving to new employers. Low-skilled workers and disadvantaged groups tend to be particularly affected by these barriers. A further barrier to labour mobility is housing market regulation. Reforms are also essential to boost productivity and ensure that all have the opportunity to benefit from future growth, especially strictly enforcing competition policy. Environmental performance has continued to improve along some dimensions, with greenhouse gas emissions falling since 2005, and energy security being strengthened.

SPECIAL FEATURES: MODERNISING STATE-LEVEL REGULATION AND POLICIES TO BOOST MOBILITY; ANTI-COMPETITIVE AND REGULATORY BARRIERS IN THE LABOUR MARKET

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Basic statistics of United States, 2019

(Numbers in parentheses refer to the OECD average)*

This Survey is published on the responsibility of the Economic and Development Review Committee of the OECD, which is charged with the examination of the economic situation of member countries.The draft report was discussed at a meeting of the Economic and Development Review Committee on 2 & 3 June 2020, with participation of representatives of the United States authorities. The Secretariat’s draft report was prepared for the Committee by Douglas Sutherland and Mikkel Hermansen under the supervision of Patrick Lenain. Damien Azzopardi provided statistical assistance and Stephanie Henry provided editorial support. The Survey benefitted from contributions by Sebastian Benz, Fozan Fareed , Fernando Galindo-Rueda and Alexander Jaax. Support from the government of United States is gratefully acknowledged. The previous Economic Survey of the USA was issued in June 2018.

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