Chapter 3. A Benchmark for Other Nations

The U.S. economy provides a consistent benchmark for the world across a broad range of economic and labor market indicators, including GDP per capita, the productivity of its workers, robust productivity growth, high labor force participation, low overall unemployment, and low long-term unemployment. Other nations may lead in individual indicators, but the United States is consistently at or near the top across many measures. Its vibrant, flexible labor market is a benchmark for other nations.

The successful record of the United States across a broad range of indicators and over an extended time period is remarkable for a mature industrial economy. The fact that the United States has achieved these results in the face of growing worldwide competition and other challenges, both natural and man-made, is a further testament to the robustness and resilience of an economic system based on free and open markets. And it is a testament to the energy, creativity, skills, flexibility, and competitiveness of American workers and employers.

This chapter provides an overview of a few selected labor market indicators across countries. For a more comprehensive review of international data, see A Chartbook of International Labor Comparisons, available online at www.dol.gov/asp.

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