The United States is a highly developed mixed economy. It is the world's largest economy by nominal GDP; it is also the second largest by purchasing power parity (PPP), behind China. It has the world's sixth highest pe… See more

The economic history of the United States began with British settlements along the Eastern seaboard in the 17th and 18th centuries. After 1700, the United States gained population rapidly, and imports as well as … See more

U.S. nominal GDP was $19.5 trillion in 2017, the largest in the world. Annualized, nominal GDP reached $20.1 trillion in Q1 2018, the first time it exceeded $20 trillion. About 70% of U.S. GDP is personal consumptio… See more

There were approximately 160.4 million people in the U.S. labor force in 2017, the fourth largest labor force in the world behind China, India, and the European Union. The government (federal, state and local) empl… See more

Real (i.e., inflation-adjusted) median household income, a good measure of middle-class income, was $59,039 in 2016, a record level. However, it was just above the previous record set in 1998, indicating the purcha… See more