Economic growth is slowing after a rapid recovery
Large emission reductions are needed
The economic shock was abrupt but the recovery was strong
The economy is slowing following a strong rebound
Non-services consumption remains elevated
Investment has recently weakened and fiscal policy support has been scaled back
The export recovery has been slow relative to imports
Trade links with Russia are limited
Employment has recovered and the labour market is tight
Older cohorts have experienced a decline in labour force participation
Disparate labour market impacts between races have been less persistent
Lower wage workers are experiencing particularly rapid increases
Resignations have been triggered by the rebound in economic activity
Inflationary pressures have broadened
Long-term inflation expectations remain contained
Interest rates have risen sharply
Asset prices rose markedly through the pandemic
A significant increase in the Federal Funds Rate is foreshadowed
Aggregate indicators of bank balance sheet health have remained stable
Business credit remains relatively low
Credit quality has declined in COVID-related industries
A very large discretionary stimulus was deemed necessary given relatively weak automatic stabilisers
Government support boosted household income of low and middle income households
Delays in processing unemployment insurance claims have been significant
The ageing population will push fiscal spending higher
The tax administration is under-resourced
Markups in the United States health sector are comparatively high
Spending on pharmaceuticals is much higher than other OECD countries
Improving infrastructure governance could bring significant productivity gains
There is scope for improved infrastructure governance
Indicators of infrastructure costs are elevated
Indicators of control of corruption dipped in recent years
Tax transparency and anti-money laundering measures are mostly effective
Public trust in government is near a historic low
Public trust in government was among the lowest in the OECD before the pandemic
Middle-class incomes have lagged those at the top and bottom of the distribution
The middle-class has faced rising costs of important components of its consumption basket
College tuition fees are high by international standards
Housing and student loan debt have risen and account for a significant part of total household debt
Both income inequality and polarisation have risen since 1970
The US middle class is relatively small, and has shrunk faster than the OECD average
The polarisation of net wealth has risen in the United States
Fiscal policy supported low- and middle-income households during the COVID-19 crisis
Household wealth concentration rose during the pandemic
Access to child care boosts women’s labour market participation
Child care costs are high in the United States
Enrolment in early childhood education is low in the United States
Public expenditure on child care and pre-primary education is low in the United States
Child care workers are paid less than pre-school and kindergarten teachers
Significant cuts to emissions will be needed to reach net zero by 2050
Emissions per capita are among the highest in the OECD
Emissions from homes and transportation are a large share of total emissions
Fossil fuels accounted for a large share of total primary energy supply in 2020
The United States has reduced its emission intensity but it remains among the highest in the OECD
Carbon emission cuts have not prevented strong economic growth in a number of OECD countries
Emissions inequality in the United States
Carbon pricing is limited
Americans are generally less supportive of climate policies
Support for climate policies
Different distributional effects of carbon taxes depending on revenue-recycling measures
United States Transportation greenhouse gas emissions, by source
The number of publicly available chargers has risen quickly but remains low