Economy of the United States Facts for Kids

The economy of the United States is the world's largest national economy and the world's second-largest overall economy, the GDP of the European Union being approximately $2 trillion larger. Its nominal GDP was estimated to be $21.4 trillion in 2019, approximately a quarter of nominal global GDP. Its GDP at purchasing power parity is the largest in the world, approximately a fifth of global GDP at purchasing power parity.

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Washburn and Moen Manufacturing Company in Worcester, Massachusetts, 1876
Oil wells at Los Angeles, California, 1905
Consolidated B-24 Liberators at the Consolidated-Vultee Plant, Fort Worth, Texas, 1943
McDonald's restaurant in Mount Pleasant, Iowa
President Donald Trump with key automobile industry leaders, 2017
U.S. cumulative real (inflation-adjusted) GDP growth by US president (from Reagan to Obama).
Number of Businesses by Type (US Census Bureau 2019)
Job growth by US president, measured as cumulative percentage change from month after inauguration to end of term.
Panel chart illustrates nine key economic variables measured annually in 2014–2017. The years 2014–2016 were during President Obama's second term, while 2017 was during President Trump's term. Refer to citations on detail page.
US Census Bureau (Number of Employees per Business)
U.S. real median household income (1984–2018)
U.S. share of income (pre-tax and after-tax) earned by top 1% households in 1979, 2007, and 2015 (CBO data). The first date (1979) reflects the more egalitarian pre-1980 period, 2007 was the peak inequality of the post-1980 period, and the 2015 number reflects the Obama tax increases on the top 1% along with residual effects of the Great Recession.
U.S. family pre-tax income and net worth distribution for 2013 and 2016, from the Federal Reserve Survey of Consumer Finances.
Aerial view of San Diego suburb
Number in Poverty and Poverty Rate: 1959 to 2016. United States.
Wealth inequality in the United States increased from 1989 to 2013.
A wheat harvest in Idaho
The Port of Houston, one of the largest ports in the United States.
Protectionist measures since 2008 by country.
The Federal Reserve is the central banking system of the United States
Boeing CEO Dennis Muilenburg at the 787-10 Dreamliner rollout ceremony
Restaurants and shops in Chinatown, Philadelphia
Percent of U.S. economy from State-owned Enterprises or GSEs
Tennessee in 1897. The U.S. was a leader in the adoption of electric lighting
Steve Jobs and Bill Gates are two of the best-known American entrepreneurs.
Quarterly U.S. venture capital investments, 1995–2017
A typical Walmart discount department store (location: Laredo, Texas).
The New York Stock Exchange is the largest stock exchange in the world.
Contributions to Percent Change in Real GDP (1930–1946), source Bureau of Economic Analysis
Contributions to Percent Change in Real GDP (1947–1973), source Bureau of Economic Analysis
Contributions to Percent Change in Real GDP (1974–1990), source Bureau of Economic Analysis
Contributions to Percent Change in Real GDP (1991–2008), source Bureau of Economic Analysis
GDP per capita growth.
Real GDP per capita in the United States
Historical growth of the U.S. economy from 1961–2015
GDP per person in the United States
US Gross Private Domestic Investment and Corporate Profits After Tax as shares of Gross Domestic Product
US share of world GDP (%) since 1980. US share of world GDP (nominal) peaked in 1985 with 32.74% of global GDP (nominal). The second-highest share was 32.24% in 2001. US share of world GDP (PPP) peaked in 1999 with 23.78% of global GDP (PPP). The share has been declining each year since then.
U.S. in global economy
The Percentage of the U.S. working age population employed, 1995–2012.
Official U.S. unemployment rate, 1950–2005
United States mean duration of unemployment 1948–2010.
Average annual hours worked
All employees, private industries, by branches
U.S. manufacturing employment
U.S. manufacturing industry's share of nominal GDP
U.S. Change in real income versus selected goods and services v1
Mean Quintile Household Income (1967-2015)
U.S. real median household income, 1967-2014
Real family income indexed to 1973, across the distribution 1947-2014
Real compensation per hour in the U.S. (1947–2021).
Historical graph of real wages in the U.S. from 1964 to 2005.
Median Real Wages by Educational Attainment.png
Productivity and real median family income growth, 1947–2009.
Top 1% fiscal income share
Gini Coefficient for Household Income (1967–2007), source United States Chamber of Commerce
U.S. Income Shares of Top 1% and 0.1% 1913–2013
Income inequality panel – v1
Average tariff rates in USA (1821–2016)
Average tariff rates (France, UK, US)
Average tariff rates for selected countries (1913–2007)
Average tariff rates on manufactured products
U.S. trade balance and trade policy (1895–2015)
Imports vs exports & net imports
Merchandise exports (1870–1992)
U.S. federal effective tax rates by income percentile and component as projected for 2014 by the Tax Policy Center.
CBO estimates of historical effective federal tax rates broken down by income level.
Debt in the United States
Assets of the United States as a fraction of GDP 1960–2008
Liabilities of the United States as a fraction of GDP 1960–2009
Development of U.S. federal government debt ceiling from 1990 to January 2012.
Deficit and debt increases 2001–2016.
U.S. public net debt and the total public debt
"Twin deficit" (1960–2006)

Economy of the United States facts for kids

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See also