United States

In what year did consumer spending account for 68% of the U.S. economy?

In 2009, the private sector was estimated to constitute 86.4% of the economy. While its economy has reached a postindustrial level of development, the United States remains an industrial power. Consumer spending comprised 68% of the U.S. economy in 2015. In August 2010, the American labor force consisted of 154.1 million people (50%). With 21.2 million people, government is the leading field of employment. The largest private employment sector is health care and social assistance, with 16.4 million people. It has a smaller welfare state and redistributes less income through government action than most European nations.


People Also Ask

  • Following the decisive Franco-American victory at Yorktown in 1781, Britain signed the peace treaty of 1783, and American sovereignty was internationally recognized and the country was granted all lands east of the Mississippi River. Nationalists led the Philadelphia Convention of 1787 in writing the United States Constitution, ratified in state conventions in 1788. The federal government was reorganized into three branches, on the principle of creating salutary checks and balances, in 1789. George Washington, who had led the Continental Army to victory, was the first president elected under the new constitution. The Bill of Rights, forbidding federal restriction of personal freedoms and guaranteeing a range of legal protections, was adopted in 1791.

    More Info
  • About 82% of Americans live in urban areas (including suburbs); about half of those reside in cities with populations over 50,000. In 2008, 273 incorporated municipalities had populations over 100,000, nine cities had more than one million residents, and four cities had over two million (namely New York, Los Angeles, Chicago, and Houston). Estimates for the year 2018 show that 53 metropolitan areas have populations greater than one million. Many metros in the South, Southwest and West grew significantly between 2010 and 2018. The Dallas and Houston metros increased by more than a million people, while the Washington, D.C., Miami, Atlanta, and Phoenix metros all grew by more than 500,000 people.

    More Info
  • In 2018, there were almost 90 million immigrants and U.S.-born children of immigrants (second-generation Americans) in the United States, accounting for 28% of the overall U.S. population. The United States has a very diverse population; 37 ancestry groups have more than one million members. White Americans of European ancestry (mostly German, Irish, Mexican, and English), form the largest racial group, at 73.1% of the population; African Americans constitute the nation's largest racial minority and third-largest ancestry group, and are around 13% of the total U.S. population. Asian Americans are the country's second-largest racial minority (the three largest Asian ethnic groups are Chinese, Filipino, and Indian).

    More Info
  • The United States is a federal republic of 50 states, a federal district, five territories and several uninhabited island possessions. It is the world's oldest surviving federation. It is a federal republic and a representative democracy, "in which majority rule is tempered by minority rights protected by law." For 2018, the U.S. ranked 25th on the Democracy Index. On Transparency International's 2019 Corruption Perceptions Index its public sector position deteriorated from a score of 76 in 2015 to 69 in 2019.

    More Info
  • At home, the U.S. experienced sustained economic expansion and a rapid growth of its population and middle class. Construction of an Interstate Highway System transformed the nation's infrastructure over the following decades. Millions moved from farms and inner cities to large suburban housing developments. In 1959 Hawaii became the 50th and last U.S. state added to the country. The growing Civil Rights Movement used nonviolence to confront segregation and discrimination, with Martin Luther King Jr. becoming a prominent leader and figurehead. A combination of court decisions and legislation, culminating in the Civil Rights Act of 1968, sought to end racial discrimination. Meanwhile, a counterculture movement grew which was fueled by opposition to the Vietnam war, black nationalism, and the sexual revolution.

    More Info

Featured

We don't show ads. Help us keep it that way.