Private non-profits and foreign entities each contribute a small fraction of total R&D, 3.3% and 3.8%, respectively.The USA has historically been a leader in business R&D and innovation. While this is one useful way to view the global economic picture, it’s not the only way. It grew 3.0% per year on average in the 1960s, 2.1% in the 1970s, 2.4% in the 1980s, 2.2% in the 1990s, 0.7% in the 2000s, and 0.9% from 2010 to 2017.Nominal GDP sector composition, 2015 (in millions of dollars) at Nominal GDP Sector Composition, 2016 (in millions of dollars) at current prices.There were approximately 160.4 million in the U.S. labor force in 2017, the fourth largest labor force in the world behind China, India, and the European Union.The proportion of Americans employed by small business versus large business has remained relatively the same year by year as some small businesses become large businesses and just over half of small businesses survive for more than 5 years.There are nearly 30 million small businesses in the U.S. By economic sector Nominal GDP sector composition The The U.S. lags in overall healthcare performance but is A comprehensive 2007 study by European doctors found the five-year U.S. healthcare costs are considerably higher than other countries as a share of GDP, among other measures. Similarly, ownership rates of gadgets and amenities are relatively high compared to other countries.It was reported by Pew Research Center in 2016 that, for the first time in 130 years, Americans aged 18 to 34 are more likely to live with their parents than in any other housing situation.In one study by ATTOM Data Solutions, in 70% of the counties surveyed, homes are increasingly unaffordable for the average U.S. worker.As of 2018, the number of U.S. citizens residing in their vehicles because they can't find affordable housing has "exploded", particularly in cities with steep increases in the cost of housing such as In 2005, median personal income for those over the age of 18 ranged from $3,317 for an unemployed, married As a reference point, the minimum wage rate in 2009 and 2017 was $7.25 per hour or $15,080 for the 2080 hours in a typical work year.
Brought on by the process of The U.S. population is aging, which has significant economic implications for GDP growth, productivity, innovation, inequality, and national debt, according to several studies.
Its manufacturing output is greater than of Germany, France, India, and Brazil combined.The manufacturing sector of the U.S. economy has experienced substantial job losses over the past several years.The U.S. produces approximately 18% of the world's manufacturing output, a share that has declined as other nations developed competitive manufacturing industries.The U.S. economy is heavily dependent on road transport for moving people and goods.
Real family income indexed to 1973, across the distribution 1947-2014Average annual family income growth, by income group, 1947-2016Cumulative percent change in real annual earnings, by earnings group, 1979-2017Real compensation per hour in the U.S. (1947–2018).
GDP - composition by sector: agriculture: 22.1% (2017 est.) About 70% of U.S. GDP is personal consumption, with business investment 18%, government 17% (federal, state and local but excluding transfer payments such as Social Security, which is in consumption) and net exports a negative 3% due to the U.S. trade deficit.As of 2014, China passed the U.S. as the largest economy in GDP terms, measured at purchasing power parity conversion rates. In 2009, the curve inverted, as expenditure fell by 4% over the previous year then again in 2010, albeit by 1–2% this time. services: 57.6% (2017 est.)
Within the United States' scientific industries active in research, 9.1% of products and services are concerned with the licensing of intellectual property rights.When it comes to trade in intellectual property, the United States remains unrivalled.
Primary receipt categories included individual income taxes ($1,587B or 48% of total receipts), Social Security/Social Insurance taxes ($1,162B or 35%), and corporate taxes ($297B or 9%).