The tech sector is a huge component of the U.S. economy, playing role in almost all other sectors, such as healthcare, advanced manufacturing, transportation, education, and energy. After 2.Three percent GDP growth in 2023 the economy would be to slw down on 2 percent a pace that has prevailed throughout the decade-old economic expansion.
The United States of America may be the world’s third-largest economy with gdp estimated at $21.734 trillion (estimation 2023),and the GDP growth rate of 2.3% (estimation 2023) and it is expected to reach $22.32 trillion in 2023. The U.S. is usually dubbed as an economic superpower and that’s since the economy constitutes almost a quarter of the global economy, backed by advanced infrastructure, technology, and an abundance of natural resources. Gross National Income was $19.121 trillion PPP dollars (estimation 2023, World Bank). Inflation stands in low digits with 1.6% year-over-year core rate for December 2023.
There were approximately 160.4 million in the U.S. work force in 2023, your fourth largest work force on the planet behind China, India, and also the European Union. Smaller businesses would be the nation’s largest employer providing jobs fr 37% American workers. The second-largest share of employment belongs to large businesses employing 36% of the U.S. workforce while the government accounts for about 14% of all U.S. workers. By Janary 2023, unemployment rates are 3.6%.
The US has the most technologically powerful economy on the planet, having a per capita GDP of $59,500.
The United States is the world’s second-largest manufacturer, using the following particularly strong sectors: petroleum, steel, automobiles, construction machinery, aerospace, agricultural machinery, telecommunications, chemicals, electronics, food processing, consumer goods, lumber, and mining.
The U.S. produces approximately 18% from the world’s manufacturing output, a share that has declined as other nations developed competitive manufacturing industries. Development in telecommunications, pharmaceuticals, aircraft, heavy machinery along with other industries along with declines in cheap, low skill industries for example clothing, toys, along with other simple manufacturing have led to some U.S. jobs being more highly skilled and paying.
The MAPI Foundation projects that annual export growth will average 6 % annually between 2023 and 2023 as a result of increased manufacturing productivity.
The tech sector is a big element of the U.S. economy, based on Cyberstates 2023, an annual research into the nation's industry authored by CompTIA. Employment among computer which is projected to develop 13 percent from 2023 to 2026, faster than the average for those occupations. Interest in additional workers is stemming from cloud computing, the collection, and storage of big data and knowledge security.
Technology plays a role in almost every other sectors, for example health care, advanced manufacturing, transportation, education, and energy. The web of products, artificial intelligence, machine learning, autonomous vehicles, and augmented and virtual reality are all changing society and industries.
Construction is another very strong sector which includes residential and nonresidential builders; contractors that install or service mechanical systems like electricity, water, elevators, and cooling and heating; and civil engineering construction. Based on the Bls, construction and extraction occupations are projected to develop by 11 percent from 2023 to 2026, that is a rate faster than the average for all occupations, and therefore are expected to add nearly 750,000 new jobs. The development is stemming from overall economic and population growth, that is increasing demand for new buildings, roads, and other structures.
The retail trade makes up about 6 % from the nation’s GDP, having a GDP value-added of $905 billion. The retail industry is the biggest employer in the usa, based on World Atlas, and 10 percent of total employment in the usa is in retail. It supports 25 percent of U.S. jobs, or 42 million working Americans. The sector includes online stores such as Ebay and amazon and brick-and-mortar establishments.
Non-durable manufacturing is really a predominant pillar in the usa having a GDP value-added of $821 billion or 6 % of the national GDP, based on WorldAtlas as well as for 4.4 million jobs.
US natural resources are worth $45 trillion by 2023. It is the world’s largest producer of petroleum and gas and also the world’s largest trading nation[2023] as well as its second-largest manufacturer, representing a fifth of the global manufacturing output. The U.S. not just has the largest internal marketplace for goods, but also dominates the trade in services. U.S. total trade amounted to $4.2 trillion in 2023. From the world’s 500 largest companies, 121 are headquartered in the U.S.
