According to comprehensive news from WorldWay Investment: The Organisation for Economic Co-operation and Development (OECD) released a report on the 8th of July this year, which was completed last month. The report predicts that the Gross Domestic Product of the United States will grow by 2.5% this year, and will further grow by 3.5% in 2015. The OECD pointed out that the recent economic outlook for the United States remains positive, and through structural adjustments and comprehensive tax reforms, the long-term economic growth rate of the country can be further boosted.
OECD believes that the overall unemployment rate in the United States will decrease to 6.5% this year, and is expected to drop to 6% or lower in 2015, while the Consumer Price Index (CPI) is expected to rise by 1.5% this year, and continue to grow by 1.7% next year. At the same time, the OECD emphasized that the employment market in the United States has shown significant improvement, with the total number of employed surpassing the pre-economic crisis peak in the past five months.
Data released last Thursday showed that the number of non-farm jobs in the United States increased by 288,000 in June, and the unemployment rate further decreased from 6.3% in May to 6.1%.
However, OECD pointed out that while economic data in the United States indicates improvement, the happiness of the middle-income class is declining, and to boost economic morale, policymakers in the country still have more work to do. For instance, the government should strive to boost labor participation rates, amend immigration laws, and enhance the education levels of low-income groups, so that the achievements of economic recovery benefit a broader population.
