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Friday, 27th June 2014

OECD Economic Surveys: United States 2014

Source: Organisation for Economic Co-operation and Development

From Press Release:

Economic recovery in the United States is stronger than in most OECD countries, but it will remain sluggish unless new reforms are launched to boost growth...

The U.S. recovery has spread across a wide array of sectors. Most banks have generally returned to health, housing prices are rising and unemployment has fallen. That said, growth could be bolstered by new reforms of taxes, education, training, immigration and working conditions – all of which could improve the economic prospects of middle-class families....

According to the OECD Survey, the labour market is not yet back to normal. Unemployment has declined rapidly, but many discouraged workers have stopped looking for a job altogether and many part-timers would like to work longer hours. Finding a job remains challenging, especially for the large number of long-term unemployed. The report encourages close cooperation between businesses and government to tackle these challenges. A key business strategy should be to upgrade the skills of workers as this raises productivity and often leads to higher corporate profits.

The report notes downside risks to the recovery, such as renewed weakness in the housing market, financial-market turbulence and a possible weakening of productivity growth. It also suggests that the exit from unconventional monetary policy should occur at a gradual pace, as the economy approaches full employment and inflation goes back to the Fed’s 2% target.

+ Overview (PDF; 1.5 MB)

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Having begun his career in academic libraries, Adrian Janes has subsequently worked extensively in public libraries, chiefly in enquiry work as an Information Services librarian. In this role he has had particular responsibility for information from both the UK Government and the European Union. He wrote a detailed report on sources for the latter which was published by FreePint in 2007, and has contributed articles to FreePint and ResourceShelf. He is involved in training in information literacy and the use of online reference resources.

A Contributing Editor to DocuTicker, he also write reviews for Pennyblackmusic.

Adrian can be reached at adrian.janes@freepint.com

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