Salary WHAT IS YOUR EARNING POTENTIAL?
DO YOU KNOW SALARIES ON THE MARKET ENOUGH?

Average Salary - United States UNITED STATES / SALARY


SALARY SURVEYS

21,293

UPDATED
May 2022
About salary data?
CALCULATE YOUR OPTIMUM SALARY!
(based on your career and experience)
Add your survey Share page to others!

AVERAGE SALARY / YEAR MOST TYPICAL SALARY / YEAR
Gross income
Net (after tax)

$83,095 USD

£63,829 GBP
New York City

$99,813 USD

$52,000 USD

£39,943 GBP
Including "New York City"
Excluding "New York City"

Average Salary / United States

Average salary in United States is $83,095 USD per year. The most typical earning is $52,000 USD. All data are based on 21,293 salary surveys. Salaries are different between men and women. Men receive an average salary of $95,100 USD. Women receive a salary of $70,500 USD.

The most paid careers are Engineers & Technicians V with average income $125,900 USD and Management & Business with income $110,600 USD.

Based on education, the highest salaries receive people with Doctorate Degree with salary of $125,800 USD. The second most paid education level is Masters Degree with salary of $101,100 USD.

Different experiences affect earning as well. People with 20+ Years of experience receive salary of $108,900 USD. Employees with 16-20 Years of experience receive $101,900 USD.

Levels / United States (Gross USD)

Salary Levels (USD) per Year Surveys [%]
$10,000 USD - $14,999 USD
9 100%
0.04%
$15,000 USD - $19,999 USD
120 99.96%
0.56%
$20,000 USD - $24,999 USD
570 99.39%
2.68%
$25,000 USD - $29,999 USD
581 96.72%
2.73%
$30,000 USD - $34,999 USD
1,004 93.99%
4.72%
$35,000 USD - $39,999 USD
950 89.27%
4.46%
$40,000 USD - $44,999 USD
1,317 84.81%
6.19%
$45,000 USD - $49,999 USD
1,106 78.63%
5.19%
THE MOST TYPICAL SALARY
$50,000 USD - $54,999 USD
1,579 73.43%
7.42%
$55,000 USD - $59,999 USD
921 66.02%
4.33%
$60,000 USD - $64,999 USD
1,258 61.69%
5.91%
$65,000 USD - $69,999 USD
990 55.78%
4.65%
$70,000 USD - $74,999 USD
1,026 51.13%
4.82%
$75,000 USD - $79,999 USD
880 46.32%
4.13%
$80,000 USD - $84,999 USD
999 42.18%
4.69%
$85,000 USD - $89,999 USD
630 37.49%
2.96%
$90,000 USD - $94,999 USD
690 34.53%
3.24%
$95,000 USD - $99,999 USD
447 31.29%
2.1%
$100,000 USD - $104,999 USD
1,074 29.19%
5.04%
$105,000 USD - $109,999 USD
334 24.15%
1.57%
$110,000 USD - $114,999 USD
409 22.58%
1.92%
$115,000 USD - $119,999 USD
265 20.66%
1.24%
$120,000 USD - $124,999 USD
592 19.41%
2.78%
$125,000 USD - $129,999 USD
312 16.63%
1.47%
$130,000 USD - $134,999 USD
331 15.17%
1.55%
$135,000 USD - $139,999 USD
165 13.61%
0.77%
$140,000 USD - $144,999 USD
260 12.84%
1.22%
$145,000 USD - $149,999 USD
118 11.62%
0.55%
HIGH SALARIES
$150,000 USD - $159,999 USD
574 11.06%
2.7%
$160,000 USD - $169,999 USD
265 8.37%
1.24%
$170,000 USD - $179,999 USD
216 7.12%
1.01%
$180,000 USD - $189,999 USD
203 6.11%
0.95%
$190,000 USD - $199,999 USD
114 5.16%
0.54%
$200,000 USD - $209,999 USD
280 4.62%
1.31%
$210,000 USD - $219,999 USD
67 3.31%
0.31%
$220,000 USD - $229,999 USD
95 2.99%
0.45%
$230,000 USD - $239,999 USD
43 2.55%
0.2%
$240,000 USD - $249,999 USD
59 2.34%
0.28%
$250,000 USD - $349,999 USD
440 2.07%
2.07%

Gender / United States (Gross USD)

# Surveys AVERAGE SALARY / YEAR
1 Men 11,094 $95,100 USD
2 Women 6,110 $70,500 USD

Education / United States (Gross USD)

# Surveys AVERAGE SALARY / YEAR
1 Doctorate Degree 1,228 $125,800 USD
2 Masters Degree 4,659 $101,100 USD
3 Bachelors Degree 8,591 $83,100 USD
4 Some College 4,925 $65,100 USD
5 Bellow H. School 226 $60,800 USD
6 High School 1,664 $57,500 USD

Experience / United States (Gross USD)

# Surveys AVERAGE SALARY / YEAR
1 20+ Years 5,168 $108,900 USD
2 16-20 Years 2,231 $101,900 USD
3 12-16 Years 2,316 $93,100 USD
4 8-12 Years 3,029 $80,900 USD
5 4-8 Years 3,209 $69,600 USD
6 2-4 Years 2,290 $60,100 USD
7 1-2 Years 1,426 $53,900 USD
8 0-1 Year 1,624 $49,600 USD

Age / United States (Gross USD)

# Surveys AVERAGE SALARY / YEAR
1 66-70 236 $111,300 USD
2 61-65 640 $106,900 USD
3 51-55 1,690 $104,100 USD
4 46-50 2,168 $102,600 USD
5 56-60 1,200 $102,600 USD
6 71-75 62 $97,400 USD
7 41-45 2,100 $97,300 USD
8 76-99 40 $91,100 USD
9 36-40 2,242 $90,400 USD
10 31-35 2,368 $79,600 USD
11 n/a 4,103 $69,300 USD
12 26-30 2,405 $67,000 USD
13 21-25 1,614 $52,100 USD
14 14-20 425 $43,100 USD

Work Type / United States (Gross USD)

# Surveys AVERAGE SALARY / YEAR
1 Self Employed 1,193 $99,700 USD
2 Permanent 18,089 $83,800 USD
3 Contract 1,169 $83,200 USD
4 Part Time 842 $45,300 USD

States / United States (Gross USD)

# Surveys AVERAGE SALARY / YEAR
1 District Of Columbia (DC) 734 $96,400 USD
2 New York State 1,475 $95,600 USD
3 California 2,672 $94,900 USD
4 Massachusetts 680 $92,800 USD
5 Washington State 668 $89,700 USD
6 New Jersey 268 $89,600 USD
7 Connecticut 121 $88,200 USD
8 Texas 2,005 $87,300 USD
9 Illinois 785 $86,400 USD
10 Georgia 645 $85,000 USD
11 Colorado 512 $83,700 USD
12 Rhode Island 52 $83,600 USD
13 Nevada 197 $82,300 USD
14 Florida 1,079 $81,900 USD
15 North Carolina 603 $81,500 USD
16 Minnesota 397 $79,900 USD
17 Vermont 30 $79,900 USD
18 Pennsylvania 698 $79,700 USD
19 Arizona 451 $79,600 USD
20 Michigan 534 $79,500 USD
21 West Virginia 50 $79,100 USD
22 Delaware 52 $77,900 USD
23 Maryland 270 $77,400 USD
24 Alaska 77 $76,600 USD
25 Ohio 752 $75,500 USD
26 Oregon 234 $75,500 USD
27 Tennessee 324 $75,300 USD
28 Louisiana 237 $75,300 USD
29 Virginia 277 $75,200 USD
30 Alabama 215 $74,800 USD
31 Missouri 490 $72,800 USD
32 Mississippi 67 $72,600 USD
33 New Hampshire 46 $72,600 USD
34 Kansas 76 $71,200 USD
35 Iowa 111 $70,500 USD
36 Wisconsin 292 $70,100 USD
37 Idaho 100 $70,000 USD
38 Oklahoma 207 $69,200 USD
39 Hawaii 100 $68,500 USD
40 New Mexico 109 $68,200 USD
41 Wyoming 22 $67,500 USD
42 Utah 339 $67,000 USD
43 Indiana 274 $66,900 USD
44 Nebraska 103 $65,500 USD
45 Montana 56 $65,500 USD
46 South Carolina 100 $64,700 USD
47 Kentucky 171 $64,500 USD
48 Maine 62 $63,900 USD
49 North Dakota 70 $61,200 USD
50 Arkansas 98 $60,400 USD
51 South Dakota 34 $55,200 USD

Cities / United States (Gross USD)

# Surveys AVERAGE SALARY / YEAR
1 San Jose 106 $127,100 USD
2 San Francisco 658 $111,000 USD
3 New York City 1,241 $99,800 USD
4 Washington DC 734 $96,400 USD
5 Miami 279 $94,900 USD
6 Houston 685 $94,800 USD
7 Seattle 493 $94,500 USD
8 Boston 636 $94,100 USD
9 Los Angeles 799 $90,900 USD
10 Hartford 106 $90,900 USD
11 Fort Worth 113 $89,000 USD
12 Austin 243 $87,800 USD
13 San Diego 308 $87,600 USD
14 Newark 202 $87,400 USD
15 Chicago 785 $86,400 USD
16 Atlanta 593 $85,600 USD
17 Dallas 529 $85,100 USD
18 Denver 412 $85,100 USD
19 Sacramento 203 $84,600 USD
20 Fort Lauderdale 169 $84,500 USD
21 Detroit 420 $83,700 USD
22 Charlotte 272 $83,000 USD
23 Cincinnati 196 $82,900 USD
24 Raleigh 180 $82,700 USD
25 Phoenix 281 $82,000 USD
26 Las Vegas 155 $81,600 USD
27 Philadelphia 477 $80,900 USD
28 Minneapolis 336 $79,300 USD
29 Nashville 154 $78,300 USD
30 Baltimore 270 $77,400 USD
31 Tampa 280 $77,200 USD
32 Pittsburgh 221 $77,200 USD
33 Cleveland 185 $76,800 USD
34 Orlando 269 $75,900 USD
35 Kansas City 230 $75,800 USD
36 Portland, Oregon 234 $75,500 USD
37 Buffalo, United States 108 $75,300 USD
38 Richmond 135 $75,200 USD
39 San Antonio 173 $74,200 USD
40 New Orleans 107 $74,200 USD
41 Columbus 215 $74,000 USD
42 Oklahoma City 124 $72,900 USD
43 --Other-- 1,272 $72,100 USD
44 Des Moines 111 $70,500 USD
45 Milwaukee 206 $70,300 USD
46 St. Louis 260 $70,200 USD
47 Louisville 106 $70,200 USD
48 Birmingham, United States 95 $70,200 USD
49 Boise 100 $70,000 USD
50 Rochester 113 $68,700 USD
51 Honolulu 100 $68,500 USD
52 Albuquerque 109 $68,200 USD
53 Indianapolis 225 $67,500 USD
54 Akron 103 $67,500 USD
55 Salt Lake City 339 $67,000 USD
56 Columbia, South Carolina 100 $64,700 USD
57 Grand Rapids 114 $64,000 USD
58 Little Rock 98 $60,400 USD

Career Groups / United States (Gross USD)

# Surveys AVERAGE SALARY / YEAR
1 Engineers & Technicians V 309 $125,900 USD
2 Management & Business 3,042 $110,600 USD
3 Aviation & Shipping 184 $102,600 USD
4 IT & Programming II 1,000 $94,500 USD
5 Law 492 $94,500 USD
6 Finance & Banking 1,015 $94,300 USD
7 Engineers & Technicians IV 158 $91,700 USD
8 Engineers & Technicians III 78 $91,300 USD
9 IT & Programming 1,527 $91,200 USD
10 Properties & Real Estates 187 $90,600 USD
11 Engineers & Technicians 980 $85,100 USD
12 Health Care & Medical 1,076 $84,000 USD
13 Health Care & Medical II 799 $83,900 USD
14 Human Resources 908 $82,800 USD
15 Marketing, Sales, Purchase 937 $81,200 USD
16 Insurance 439 $78,100 USD
17 Salesmen & Saleswomen 487 $77,900 USD
18 Architect Constructions 247 $77,700 USD
19 Construction & Labor Workers 626 $76,700 USD
20 Military 222 $76,600 USD
21 Engineers & Technicians II 47 $73,300 USD
22 Geography & Geodesy 24 $72,800 USD
23 Security & Fireguard 203 $71,900 USD
24 Public Sector 480 $71,300 USD
25 Fashion 68 $71,100 USD
26 Automobile 187 $69,800 USD
27 Logistics, Road, Railway 333 $69,200 USD
28 Media 236 $67,100 USD
29 Accounting & Administration 1,577 $65,600 USD
30 Education & University 1,081 $64,800 USD
31 Agriculture & Fishing 76 $64,200 USD
32 Making Design 214 $61,300 USD
33 Hotels & Tourism 163 $61,000 USD
34 Manufacturing & Labor Workers 475 $60,400 USD
35 Sports & Recreation 88 $59,100 USD
36 Arts, Culture, Performance 139 $56,000 USD
37 Archaeology & History 32 $56,000 USD
38 Organization & Coordination 292 $54,700 USD
39 Customer Services 566 $47,000 USD
40 Restaurants, Inns, Pubs 299 $45,600 USD

Careers / United States (Gross USD)

# Surveys AVERAGE SALARY / YEAR
1 CEO 215 $161,000 USD
2 Doctor 112 $160,600 USD
3 Director 499 $150,200 USD
4 General Manager 223 $128,600 USD
5 Other Engineer Career 293 $127,000 USD
6 Engineering Manager 89 $123,400 USD
7 Lawyer 172 $117,500 USD
8 Finance Manager 111 $111,800 USD
9 Program Manager 101 $111,200 USD
10 IT Manager 309 $110,300 USD
11 Software Engineer 208 $109,100 USD
12 Construction Manager 99 $107,000 USD
13 CPA - Certified Public Accountant 156 $104,700 USD
14 IT Project Manager 188 $102,500 USD
15 Manager 526 $97,300 USD
16 University Professor 113 $95,800 USD
17 Other Management Career 233 $95,700 USD
18 Operations Manager 227 $94,900 USD
19 Business Manager 118 $94,700 USD
20 Construction Project Manager 118 $93,600 USD
21 Human Resources Manager 417 $93,300 USD
22 Other IT Career 119 $93,000 USD
23 Other Finance Career 170 $92,900 USD
24 Project Manager 246 $92,800 USD
25 Marketing Manager 138 $92,200 USD
26 Software Developer 275 $92,100 USD
27 Other Sales Career 121 $91,700 USD
28 Other Human Resource Career 188 $88,200 USD
29 Engineer 266 $84,700 USD
30 Healthcare Management 209 $83,200 USD
31 System Analyst 97 $82,300 USD
32 Salesmen or Saleswomen 171 $80,900 USD
33 Financial Analyst 207 $80,700 USD
34 Electrical Engineer 95 $79,400 USD
35 Human Resource 129 $78,800 USD
36 Account Manager 84 $76,500 USD
37 Registered Nurse 206 $75,200 USD
38 Mechanical Engineer 146 $73,100 USD
39 Architect 124 $72,800 USD
40 Other Public Sector Career 285 $72,600 USD
41 System Administrator 82 $72,300 USD
42 Manufacturing 114 $70,400 USD
43 Other Manufacturing Career 95 $68,200 USD
44 Other Medical Career 196 $66,800 USD
45 Senior Accountant 85 $65,600 USD
46 Technician 85 $65,300 USD
47 Other Constr. & Labor Career 99 $64,500 USD
48 IT Coordinator 89 $62,900 USD
49 Office Manager 81 $61,200 USD
50 Teacher 204 $60,100 USD
51 Accountant 182 $59,400 USD
52 Other Education Career 199 $57,800 USD
53 Restaurant Manager 98 $57,000 USD
54 Customer Service Manager 100 $55,000 USD
55 Staff Accountant 95 $50,700 USD
56 Paralegal 80 $50,200 USD
57 Other Service Career 163 $48,200 USD
58 Administrative Assistant 146 $36,800 USD

People's individual salary examples (surveys)

Buyer Planner Ii
Posted 16 April 2022
City Education Experience Knowledge Gross salary / year
Tampa Bachelors Degree 1-2 Years Intermediate $60,000 USD

Records And Information Management Specialist
Posted 16 April 2022
City Education Experience Knowledge Gross salary / year
Washington DC Masters Degree 8-12 Years Advanced $115,000 USD

Account Manager
Posted 15 April 2022
City Education Experience Knowledge Gross salary / year
Chicago Masters Degree 0-1 Year Basic $50,000 USD

Administrative Office Assistant
Posted 15 April 2022
City Education Experience Knowledge Gross salary / year
Bismarck, North Dakota Bachelors Degree 0-1 Year Intermediate $30,000 USD

Engineer
Posted 15 April 2022
City Education Experience Knowledge Gross salary / year
San Jose Masters Degree 2-4 Years Advanced $150,000 USD

Distributor
Posted 15 April 2022
City Education Experience Knowledge Gross salary / year
Denver Bachelors Degree 0-1 Year Intermediate $51,900 USD

Chief Information Officer
Posted 15 April 2022
City Education Experience Knowledge Gross salary / year
Chattanooga Masters Degree 16-20 Years Expert $235,000 USD

Chief Scientist
Posted 15 April 2022
City Education Experience Knowledge Gross salary / year
San Diego Doctorate Degree 16-20 Years Expert $205,000 USD

Software Engineer
Posted 15 April 2022
City Education Experience Knowledge Gross salary / year
Seattle Masters Degree 1-2 Years Expert $160,000 USD

Broker
Posted 14 April 2022
City Education Experience Knowledge Gross salary / year
St. Louis High School 8-12 Years Expert $120,000 USD

Bartender
Posted 14 April 2022
City Education Experience Knowledge Gross salary / year
Kansas City Some College 2-4 Years Advanced $30,000 USD

Ui/ux Designer
Posted 14 April 2022
City Education Experience Knowledge Gross salary / year
Boise Bachelors Degree 8-12 Years Advanced $92,500 USD

Enrollment Management
Posted 14 April 2022
City Education Experience Knowledge Gross salary / year
Dallas Masters Degree 16-20 Years Expert $95,000 USD

Senior Software Engineer
Posted 14 April 2022
City Education Experience Knowledge Gross salary / year
San Francisco Masters Degree 4-8 Years Advanced $230,000 USD

Technical Recruiter
Posted 14 April 2022
City Education Experience Knowledge Gross salary / year
Los Angeles Some College 2-4 Years Advanced $350,000 USD

Barbero
Posted 14 April 2022
City Education Experience Knowledge Gross salary / year
Orlando High School 0-1 Year Intermediate $30,000 USD

Neonatal Clinical Nurse Specialist
Posted 14 April 2022
City Education Experience Knowledge Gross salary / year
Fresno Masters Degree 16-20 Years Advanced $160,000 USD

Director Strategy
Posted 14 April 2022
City Education Experience Knowledge Gross salary / year
Boston Bachelors Degree 4-8 Years Advanced $180,000 USD

Technical Program Manager
Posted 13 April 2022
City Education Experience Knowledge Gross salary / year
San Francisco Masters Degree 2-4 Years Intermediate $200,000 USD

Fashion
Posted 13 April 2022
City Education Experience Knowledge Gross salary / year
Denver Bellow H. School 1-2 Years Intermediate $350,000 USD

Social Worker
Posted 13 April 2022
City Education Experience Knowledge Gross salary / year
Rochester Bachelors Degree 4-8 Years Advanced $67,000 USD

Farmer
Posted 13 April 2022
City Education Experience Knowledge Gross salary / year
Akron High School 4-8 Years Advanced $35,000 USD

Behavioral Support Technician
Posted 09 April 2022
City Education Experience Knowledge Gross salary / year
Kansas City Some College 16-20 Years Basic $25,000 USD

Teacher
Posted 08 April 2022
City Education Experience Knowledge Gross salary / year
Yonkers Doctorate Degree 16-20 Years Expert $130,000 USD

Director
Posted 08 April 2022
City Education Experience Knowledge Gross salary / year
Albuquerque Doctorate Degree 4-8 Years Advanced $106,000 USD

Customer Support
Posted 08 April 2022
City Education Experience Knowledge Gross salary / year
Chicago High School 2-4 Years Intermediate $54,000 USD

Postdoc
Posted 08 April 2022
City Education Experience Knowledge Gross salary / year
Boston Doctorate Degree 1-2 Years Expert $65,000 USD

Marketing Manager
Posted 08 April 2022
City Education Experience Knowledge Gross salary / year
Los Angeles Bachelors Degree 2-4 Years Intermediate $80,000 USD

Director Of Operations
Posted 08 April 2022
City Education Experience Knowledge Gross salary / year
Baltimore Masters Degree 4-8 Years Advanced $73,800 USD

Senior Software Engineer
Posted 08 April 2022
City Education Experience Knowledge Gross salary / year
Aurora Some College 4-8 Years Expert $140,000 USD

Engineering Manager
Posted 08 April 2022
City Education Experience Knowledge Gross salary / year
Detroit Bachelors Degree 16-20 Years Expert $142,000 USD

Data Analyst
Posted 08 April 2022
City Education Experience Knowledge Gross salary / year
Boise Masters Degree 1-2 Years Intermediate $100,000 USD

Program Manager
Posted 08 April 2022
City Education Experience Knowledge Gross salary / year
Baton Rouge Masters Degree 8-12 Years Expert $120,000 USD

Engineering Manager
Posted 08 April 2022
City Education Experience Knowledge Gross salary / year
Fort Wayne Some College 16-20 Years Advanced $175,000 USD

Software Engineer
Posted 07 April 2022
City Education Experience Knowledge Gross salary / year
Los Angeles Bachelors Degree 2-4 Years Expert $170,000 USD

Clinical Research Associated
Posted 07 April 2022
City Education Experience Knowledge Gross salary / year
New York City Bachelors Degree 0-1 Year Intermediate $60,000 USD

Executive Director, Finance And Hr
Posted 07 April 2022
City Education Experience Knowledge Gross salary / year
Houston Masters Degree 16-20 Years Expert $72,000 USD

Hr Director
Posted 07 April 2022
City Education Experience Knowledge Gross salary / year
Chicago Bachelors Degree 2-4 Years Advanced $120,000 USD

Jobs
Posted 07 April 2022
City Education Experience Knowledge Gross salary / year
Albuquerque Bellow H. School 0-1 Year Basic $40,000 USD

Permanent Guest Teacher
Posted 07 April 2022
City Education Experience Knowledge Gross salary / year
Newark Bachelors Degree 0-1 Year Intermediate $45,000 USD

Analyst
Posted 07 April 2022
City Education Experience Knowledge Gross salary / year
Austin Bachelors Degree 0-1 Year Basic $46,000 USD

Medical Entrepreneur
Posted 07 April 2022
City Education Experience Knowledge Gross salary / year
Pittsburgh Bachelors Degree 16-20 Years Expert $350,000 USD

Manager
Posted 06 April 2022
City Education Experience Knowledge Gross salary / year
Austin Bachelors Degree 2-4 Years Advanced $100,000 USD

Intern
Posted 06 April 2022
City Education Experience Knowledge Gross salary / year
Boston Some College 0-1 Year Basic $100,000 USD

Executive Protection Agen
Posted 06 April 2022
City Education Experience Knowledge Gross salary / year
Los Angeles Some College 1-2 Years Advanced $90,500 USD

Design Engineer
Posted 06 April 2022
City Education Experience Knowledge Gross salary / year
Baltimore Bachelors Degree 1-2 Years Intermediate $94,100 USD

Administrator
Posted 06 April 2022
City Education Experience Knowledge Gross salary / year
Tampa Bachelors Degree 2-4 Years Advanced $80,000 USD

Compliance Manager
Posted 06 April 2022
City Education Experience Knowledge Gross salary / year
New York City Masters Degree 8-12 Years Expert $127,000 USD

Licensed Therapist
Posted 06 April 2022
City Education Experience Knowledge Gross salary / year
Fort Worth Masters Degree 1-2 Years Advanced $56,100 USD

Contractor
Posted 06 April 2022
City Education Experience Knowledge Gross salary / year
Tacoma Bellow H. School 0-1 Year Basic $320,000 USD

ECONOMY / United States

Introduction

The United States economy is massive. The high economic growth is attributed to its high productivity, making it the 7th country with the highest value of natural resources. The currency used for both local and international transactions is the US Dollar.

The guide will help you learn about the United States GDP, various sectors of the United States economy, inflation, and employment statistics.

 

GDP

The Gross Domestic Product of the United States has grown gradually over the years. In the year 2017, the GDP was 19.5 trillion, and the year 2018 20.1 trillion. In the current year, which is the year 2021, the GDP is at 22.785 trillion. The highest growth was experienced in the year 2008, which was a 2.9 percent increment. However, due to the Covid -19 pandemic there was a GDP drop in 2020. The GDP per sector is.

·       Agriculture sector 0.9%

·       Industry sector 18.9%

·       Services 80.2%

The United States GDP per capita is currently at $68,310. The United States is ranked 7th in terms of GDP per capita. The growth has been gradual over the years where economists attributes it to

·       Low productivity growth

·       Reduced corporate investment

·       Slow growth in the labor force and population

·       Lack of significant innovation

 

Economic sector

Some of the leading industries which have led to massive economic growth include.

·       Health care

Health care has led to a massive boost of the United States economy. The sector has led to more jobs creation. The primary reason for the job creation includes Increased demand for workers due to chronic diseases that the aging population faces, and additional employees are needed to take care of the aging population.

·       Technology

Most of the sectors require technology for them to work effectively. This has led to more employees filling the gap.

·       Aerospace

The United States is famously known for manufacturing airplanes. We have seen companies such as Boeing and General Dynamics making military aircraft and private airplanes.

 

Employment 

The country has the fourth highest labor force in the world. In the year 2017, there were about 160.4 million people in the employment sector. The main employer is small businesses which contribute 37% of the employees. Large business sectors follow closely with around 36% of the labor force.

Private sectors also employ a vast workforce than the government, where the private sector accounts for 85% while the government accounts for 14% of the workforce. Statistics collected in the year 2018 the employment sector labor force for various sectors are as follows.

·       Industries 19%

·       Services 80%

·       Agriculture 1%

Statistics for the year ending 31st December 2017 showed that the rate of unemployment was at 4.1 percent. That indicates that around 6.6 million people in the United States were not employed during that year. The primary reasons for unemployment include.

·       Demographic shifts

·       Retirements

Unemployment has gradually increased over the years. However, in May 2014, there was an increase in payroll jobs as the economy recovered. However, the Covid 19 pandemic has had adverse effects. The unemployment rate in April 2020 rose to 14.7% then fell to 11.1 % at the end of June 2020. By August 2021, the unemployment rate of the United States stands at 5.2%.

 

Exports and Imports

By the end of 2020, United States exports estimated amount was $2.127 trillion. The main exports and import partners of the United States include Japan, China, Mexico, Canada, and the European Union. United States exports are from various sectors such as agricultural products, fuel and mining products, manufactures, and other sectors. The allocation of exports in the different sectors is as follows. The United States imports amount to 2.808 trillion.

 

Inflation

The primary indicator of inflation in a country is the consumer price index. The inflation rate in the year 2020 was 1.2 percent. That shows that the purchasing power of the US dollar is stable. Statistics by the international monetary fund show that the United state's inflation rate is relatively low compared to other countries. A country like China had an inflation rate of 2.92 percent in 2020.

 

Income and wealth

1.    Income inequality

The income inequality of a country is how the income is distributed among the people. With such data, we know how many people are in the lower class, middle class, and high class. In 2017 United States income inequality was ranked 41 out of 156 countries. Income equality has risen over the years. From the 1970s, the country has experienced a widening gap between median incomes and productivity. The main reasons for that being.

 

·       Decrease in per capita hours worked.

·       Increase in non-cash benefits, which are not counted as CPS income data such as share of workers compensation.

·       Statistical distortion.

·       Immigrants are entering the labor force.

·       Income ever-changing from labor to capital.

·       Period adjustment after an income surge such as post wars.

 

2.    Household net worth and wealth inequality

In 2017 the household net worth of the United States was $ 99 trillion. That was a $5.2 trillion increase from the previous year. The $ 99 trillion represents each person getting $ 302,000.

Studies in 2017 show that wealth inequality is at high records where it was estimated that 1 percent will regulate 70% of United States wealth by 2021. Wealth inequality is very high as compared to other developed countries. We can see it as the ten top wealthiest countries with about 80%  of the financial assets.

 

3.    Homeownership

In 2018, the homeownership rate was 62.4%.  Homeownership is relatively high in comparison to other countries. The country's average home equals 65 square meters, fifty percent more than most average high-income countries. Research done by Pew Research Centre shows that Americans of age between 18 and 34 are more probable to stay with their guardians.

 

Conclusion

A country's economy is mainly measured by its GDP, Inflation rate, and the various sectors of the economy.  United States economy is high compared to other developed countries and the world's largest economy in terms of net wealth and GDP


Advertising
© www.averagesalarysurvey.com
2011 - 2022
Home · About · Privacy policy · Site map · Xml · PT · ES · IT · DE · SL ·
AR · BG · ZH · HR · CS · DA · NL · ET · FI · EL · HU · IS · ID · GA · JA · KO · LV · LT · MK · NO · PL · RO · RU · SR · SK · SV · TR · UK · CY