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2020 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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