Economy of the United States

The Economy of the United States is the largest and one of the most technologically advanced national economies in the world, with a per capita GDP of $40,100. In this capitalist, market-oriented economy, private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace with taxes collected from firms and individuals. Business firms in the U.S. enjoy considerably less regulation than firms in many other states concerning decisions to expand capital plant, lay off workers, and develop new products, but there is a debate about how much relative regulation exists in the United States in the era of globalization. American firms are at or near the forefront in technological research and development, especially in computers, pharmaceuticals, and aerospace, although some advantages have narrowed since the end of World War II. The United States has transformed from being the world's largest creditor to having substantial fiscal and trade deficits; the significance of these deficits is disputed by economists.

Wages and Occupation (2004)

Total Wages - $43,280

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Domestic industries - $43,327

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• Private industries - $42,635

:* Agriculture, forestry, fishing, and hunting - $26,371

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::* Farms - $27,533

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::* Forestry, fishing, and related activity - $24,989

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:* Mining - $67,782

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::* Oil and Gas Extraction - $109,263

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::* Mining, except oil and gas - $54,007

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::* Support activitties for mining - $56,184

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:* Utilities - $73,040

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:* Construction - $41,945

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:* Manufacturing - $48,731

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::* Durable Goods - $51,125

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:::* Wood products - $33,710

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:::* Nonmetallic mineral products - $43,002

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:::* Primary metals - $51,710

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:::* Fabricated metal products - $41,967

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:::* Machinery - $51,589

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:::* Computer and electronic products - $74,649

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:::* Electrical equiptment, appliances, and components - $46,741

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:::* Motor vehicles, bodies and trailers, and components - $54,728

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:::* Other transportation equiptment - $62,546

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:::* Furniture and related products - $33,090

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:::* Miscellaneous Manufacturing - $45,672

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::* Non-Durable Goods - $44,758

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:::* Food and beverage and tobacco products - $37,656

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:::* Textile mills and textile product mills - $32,845

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:::* Apparel and Leather and applied products - $29,790

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:::* Paper products - $51,420

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:::* Printing and related support activities - $40,619

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:::* Petroleum and Coal Products - $76,067

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:::* Chemical products - $69,382

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:::* Plastics and rubber products - $39,961

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:* Wholesale trade - $55,325

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::* Durable goods - $57,248

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::* Nondurable goods - $52,631

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:* Retail trade - $28,216

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::* Motor Vehicle and parts dealers - $44,699

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::* Food and Beverage stores - $23,264

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::* General Merchandise Stores - $21,800

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::* Other Retail - $28,332

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:* Transportation and warehousing - $42,505

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

::* Air Transportation - $58,201

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::* Rail Transportation - $69,637

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

::* Water Transportation - $61,790

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::* Truck Transportation - $39,728

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::* Transit and ground passenger transportation - $24,643

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::* Pipeline Transportation - $88,661

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::* Other Transportation and support activities - $40,715

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::* Warehousing and storage - $37,284

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:* Information - $65,708

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::* Publishing Industries (includes software) - $68,279

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::* Motion picture and sound recording industries - $60,167

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::* Broadcasting and Telecommunications - $63,597

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::* Information and data processing services - $71,686

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:* Finance and Insurance - $73,010

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

::* Federal Reserve banks, credit intermediation, and related acitivities - $56,284

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::* Securities, commodity contracts, and investments - $164,711

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::* Insurance carriers and related activities - $61,534

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::* Fund, trusts, and other financial vehicles - $87,188

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:* Real estate and rental and leasing - $41,116

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

::* Real estate - $42,888

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::* Rental and leasing services and lessors of intangible assets - $37,082

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

:* Professional, scientific, and technical services - $66,439

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

::* Legal services - $71,358

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

::* Computer systems design and related services - $82,609

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::* Miscellaneous professional, scientific, and technical services - $61,165

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:* Management of companies and enterprises - $82,539

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:* Admninistrative and waste manangement services - $29,664

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::* Administrative and support services - $28,883

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::* Waste management and remediation services - $46,889

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:* Educational services - $33,740

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:* Health care and social assistance - $40,328

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

::* Ambulatory health care services - $51,980

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

::* Hospitals - $45,469

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

::* Nursing and residential care facilities - $25,933

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::* Social assistance - $23,216

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:* Arts, entertainment, and recreation - $34,921

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::* Performing arts, spectator sports, museums, and related activities - $65,644

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::* Amusements, gambling, and recreation industries - $24,456

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:* Accommodation and food services - $19,934

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::* Accommodation - $30,762

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

::* Food services and drinking places - $17,691

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• Government - $46,941

:* Federal - $60,046

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

::* General Government - $60,338

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

:::* Civilian - $66,558

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

:::* Military - $53,239

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

::* Government enterprises - $58,670

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

:* State and Local - $43,533

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

::* General government - $43,329

~ ~ ~ ~ ~ ~ ~ ~ ~ ~

:::* Education - $43,181

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:::* Other - $43,498

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::* Government enterprises - $46,432

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