Find Your Next Job Or Career On Rich Mega Jobs
NEW YORK (
RichTMX.com ) – RichMegaJobs.com is a employment website and features more than 8.5 million job listings. Find the right job on
RichMegaJobs.com .
RichMegaJobs.com
Economy of the United States
The
United States is a
highly developed country with a
free market economy [38] and has the world’s largest
nominal GDP and
net wealth . It has the second-largest by
purchasing power parity (PPP) behind
China .
[39] It had the world’s eighth-highest
per capita GDP (nominal) and the ninth-highest
per capita GDP (PPP) in 2022.
[40] The United States has the most
technologically powerful and
innovative economy in the world. Its firms are at or near the forefront in
technological advances , especially in
artificial intelligence ,
computers ,
pharmaceuticals , and
medical ,
aerospace , and
military equipment .
[41] The
U.S. dollar is the currency most used in
international transactions and is the world’s foremost
reserve currency , backed by its economy, stable government, and
military , its role as the reference standard for the
petrodollar system , and its linked
eurodollar and large
U.S. treasuries market .
[42] [43] Several countries
use it as their official currency and in others it is the
de facto currency.
[44] [45] The
largest U.S. trading partners are
China , the
European Union ,
Canada ,
Mexico ,
India ,
Japan ,
South Korea , the
United Kingdom , and
Taiwan .
[46] The U.S. is the world’s
largest importer and
second-largest exporter .
[47] It has
free trade agreements with
several countries , including the
USMCA , Australia, South Korea, Switzerland, Israel and several others that are in effect or under negotiation.
[48]
The nation’s economy is fueled by abundant
natural resources , a well-developed infrastructure, and high productivity.
[49] It has the second-highest total-estimated value of natural resources, valued at
US$ 44.98
trillion in 2019, although sources differ on their estimates.
[50] Americans have the highest average
household and
employee income among
OECD member states.
[51] In 2013, they had the sixth-highest
median household income , down from fourth-highest in 2010.
[52] [53]
By
1890 , the United States had overtaken the
British Empire as the world’s most productive economy.
[54] It is the world’s largest producer of
petroleum and
natural gas .
[55] In 2016, it was the world’s largest trading country
[56] as well as its
third-largest manufacturer , representing a fifth of the global manufacturing output.
[57] The U.S. not only has the largest internal market for goods, but also dominates the services trade. U.S. total trade amounted to $4.2
trillion in 2018.
[58] Of the world’s
500 largest companies , 121 are headquartered in the U.S.
[59] The U.S. has the world’s
highest number of billionaires , with a total wealth of $3.0
trillion.
[60] [61] US commercial banks had $20
trillion in assets as of August 2020.
[62] U.S.
global assets under management had more than $30
trillion in assets.
[63] [64]
The
New York Stock Exchange and
Nasdaq are the world’s
largest stock exchanges by
market capitalization and
trade volume .
[65] [66] Foreign investments made in the U.S. total almost $4.0
trillion,
[67] while American
investments in foreign countries total over $5.6
trillion.
[68] The U.S. economy is ranked first in international ranking on
venture capital [69] and global
research and development funding.
[70] Consumer spending comprised 68% of the U.S. economy in 2018,
[71] while its
labor share of income was 43% in 2017.
[72] The U.S. has the world’s largest
consumer market .
[73] The nation’s labor market has attracted
immigrants from all over the world and its
net migration rate is among the highest in the world.
[74] The U.S. is one of the top-performing economies in studies such as the
Ease of Doing Business Index , the
Global Competitiveness Report , and others.
[75]
The U.S. economy experienced a serious economic downturn during the
Great Recession , defined as lasting from December 2007 to June 2009. However, real GDP regained its pre-crisis (late 2007) peak by 2011,
[76] household net worth by Q2 2012,
[77] non-farm payroll jobs by May 2014,
[78] and the unemployment rate by September 2015.
[79] Each of these variables continued into post-recession record territory following those dates, with the U.S. recovery becoming the second-longest on record by April 2018.
[80] The United States ranked the 41st highest in
income inequality among 156 countries in 2017,
[81] and the highest compared to the rest of the
Western world .
[82]