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Economic recovery in the United States is stronger than in most OECD countries, but it will remain sluggish unless new reforms are launched to boost growth, according to OECD’s latest Economic Survey of the United States.
The enduring idea that the rising tide of economic growth lifts all boats is no longer a universal truth. In the US, even before the Great Recession, the poorest were steadily losing ground. Between 2000 and 2012 the average disposable income of the bottom 10% in the US fell by 14%, underlined the OECD Secretary-General.
Mr. Angel Gurría, Secretary-General of the OECD, will be in Washington on 12-13 June 2014 to present the 2014 OECD Economic Survey of the United States. While in Washington, the Secretary-General will deliver remarks at a seminar on Inclusive Growth hosted at the Center for Strategic and International Studies (CSIS). He will also have meetings with high level US officials.
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The most effective policy tool kit to address high inequalities and to extend opportunities is one that combines education and job training measures, policies to boost job creation, and reforms to make the tax and benefit system and public services more efficient.
The United States can further improve productivity in its economy by prioritizing reforms that enhance openness, diversity and competition in services markets, particularly where higher trade restrictions are observed.
When it comes to well-being, American users of the OECD Better Life Index (BLI) want to be happy, Canadians care most about health, while Latin Americans strive for better education. That’s according to user feedback as the Index marks its third birthday.
Economic activity in the United States is projected to pick up in steadily in 2014 as the effects of the severe winter weather dissipate and investment and consumption expand, according to the OECD’s latest Economic Outlook.
Biographical note of the United States' Permanent representative to the OECD.
The average worker in the United States faced a tax burden on labour income (tax wedge) of 31.3% in 2013 compared with the OECD average of 35.9%. The United States was ranked 25 of the 34 OECD member countries in this respect.
A moderate recovery is under way in major advanced economies after two years of subdued growth. Overall, most indications point to a continued underlying strengthening of the pace of growth, helped by accommodative monetary policy and reduced fiscal drag.