With such data, we know how many people are in the lower class, middle class, and high class. The income inequality of a country is how the income is distributed among the people. A country like China had an inflation rate of 2.92 percent in 2020. Statistics by the international monetary fund show that the United state's inflation rate is relatively low compared to other countries. That shows that the purchasing power of the US dollar is stable.
The inflation rate in the year 2020 was 1.2 percent. The primary indicator of inflation in a country is the consumer price index. The United States imports amount to 2.808 trillion. The allocation of exports in the different sectors is as follows. United States exports are from various sectors such as agricultural products, fuel and mining products, manufactures, and other sectors. The main exports and import partners of the United States include Japan, China, Mexico, Canada, and the European Union. By August 2021, the unemployment rate of the United States stands at 5.2%.īy the end of 2020, United States exports estimated amount was $2.127 trillion. The unemployment rate in April 2020 rose to 14.7% then fell to 11.1 % at the end of June 2020. However, the Covid 19 pandemic has had adverse effects. However, in May 2014, there was an increase in payroll jobs as the economy recovered. Unemployment has gradually increased over the years. The primary reasons for unemployment include. That indicates that around 6.6 million people in the United States were not employed during that year. Statistics for the year ending 31st December 2017 showed that the rate of unemployment was at 4.1 percent. Statistics collected in the year 2018 the employment sector labor force for various sectors are as follows. 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.
Large business sectors follow closely with around 36% of the labor force. The main employer is small businesses which contribute 37% of the employees. In the year 2017, there were about 160.4 million people in the employment sector. The country has the fourth highest labor force in the world. We have seen companies such as Boeing and General Dynamics making military aircraft and private airplanes. The United States is famously known for manufacturing airplanes. This has led to more employees filling the gap. Most of the sectors require technology for them to work effectively. 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. The sector has led to more jobs creation. Health care has led to a massive boost of the United States economy. Some of the leading industries which have led to massive economic growth include.
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