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The United States is one of the top performers among OECD countries in terms of both productivity and labour utilisation. It has shown signs recently of a broader-based recovery taking hold with growth gaining momentum.
Income inequality and relative poverty in the United States are among the highest in the OECD and have substantially increased over the past decades. These developments have been associated with a number of other worrying statistics, including low intergenerational social mobility and weak real income growth for many households.
Although job creation has improved, since the end of the 2007-08 recession, the effects of the recession on the labour market remain severe.
The US innovation system has many strengths, including world class research universities and firms that thrive in innovation-intensive sectors.
Strengthening education outcomes and innovation and putting public finances on a sustainable path would increase potential economic growth in the United States and, insofar as reforms increase equity in education opportunity and consolidation measures are progressive, reduce economic inequality.
List of OECD Economic Surveys of the United States
Country Notes from OECD Economic Policy Reforms: Going for growth 2011 presenting OECD recommendations for structural reform priorities for individual countries.
The United States faces challenging budgetary prospects, as do most other OECD countries. The federal budget deficit widened considerably during the recession, reaching about 10% of GDP in both 2009 and 2010, reflecting the operation of automatic stabilizers and the policy response to the crisis
The consensus view of scientists is that the build-up of greenhouse gases (GHG) in the atmosphere is causing global warming. To reduce the probability of severe climate change impacts and costs occurring, global GHG emissions need to be reduced substantially over coming decades.
Supported by substantial stimulus measures, the US economy has started to grow again after the economic crisis but Mr. Gurría argued that efficient spending would be key to strenghten public finances. In this respect, the recent health-care reform, which includes measures to reduce the growth in health-care spending, is an important landmark, Mr. Gurría stated.