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All countries have unique cultures, histories,
economies, and challenges. Yet despite these differences, the economies
of the world are becoming increasingly interrelated as technology and
world trade grow. As a result, local economies are increasingly
affected by changes in worldwide markets.
For the United States to continue to succeed in the global
economy and create more jobs at home, it is important to understand the economic
relationships that are transforming the world. U.S. workers have long enjoyed
one of the highest standards of living in the world—thanks to technology, the
flexibility of our nation’s workforce, and the remarkable productivity of
America’s workers. To preserve these advantages, it is critical that U.S.
workers have the skills necessary to compete in the worldwide economy of the
21st century.
By understanding how the United States compares with other
advanced and emerging economies, our nation will be better prepared to take the
steps necessary to ensure that America’s workforce and America’s economy
continue to thrive and prosper. Therefore, this Chartbook of
International Labor Comparisons provides a comparative labor market
perspective—including employment levels, jobless rates, hours worked, labor
costs, and productivity trends.
As the charts reveal, the United States leads in some
areas. In other cases, our nation’s trading partners have made great progress.
This information provides a snapshot of where the United States stands today in
relation to key economies of the rest of the world. It can assist policy and
decision makers in charting a course that will help prepare our nation’s
workforce for the challenges of tomorrow. I hope you find this Chartbook
both relevant and informative.
Elaine L. Chao
Secretary of Labor
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