The normal exceptionalness of the United States

In February, 126,000 jobs were created in the United States. The Department of Labor confirmed that the unemployment rate is stable at 5.5%. Minimum wage was increased to $7.25 per hour in compliance with federal law. In any case, many states have imposed better standards, which are applied to workers’ benefit. McDonalds announced that it will allow an increase of $1 per hour over minimum wage for its direct employees. However, 90% of its workers will be excluded since they were hired under private franchising contracts and are only subject to national regulations. The news regarding unemployment, although positive, was greeted with criticism. In fact, in the preceding 12 months, about 200,000 jobs were added each month, considerable numbers albeit certainly not eternal. Other analysts believe that the recovery has induced the creation of non-qualified jobs. It’s an answer to the danger of a jobless recovery. At this point, technological progress tends to eliminate jobs, substituting them with software and automation. Delocalization toward Asia adds to this, and it has further penalized job seekers. One solution is represented by low remuneration, which allows companies to remain competitive. Therefore, news on the job front remains uncertain, and sometimes contradictory. It’s only one of the bizarre economic trends in the US. Today, the US accounts for ¼ of the global GDP despite representing 5% of the total population. It’s an index of power and intelligence, despite the fact that it’s been declining since the 1950s when the US possessed half of the world’s wealth. It’s educational system is insufficient, general cultural literacy is frequently embarrassing, and yet the most prestigious universities are in the US as well as the most Nobel laureates. Applications to these universities on behalf of the best global talents increase every year. The association between academia and industry is one of the most fertile in economic history. They are responsible for the US’ recovery—in addition to the long-sighted quantitative easing policies—which has been stable for 6 years. American companies can count on lower labor and energy costs compared to other industrialized countries. The comprehensive consequences are visible in the economic cycle. According to a recent study by Goldman Sachs, the US GDP has grown 12.9% since the fall in 2009, while Europe’s has grown 3.8% and Japan’s has grown 8.9%. These other two economic powers have still not reached pre-crisis levels, while the US exceeded 8.1%. Its relationship with emerging countries is likely more significant; they’re considered to be the motor of the global economy. The difference in growth rates between these countries and the US reached a peak in 2007 at 6.5%, while predictions place this number closer to 1.2% in 2015. American society is demonstrating competence and vitality. They’re capable of questioning their policies but not their values, of changing their administrations but not the cornerstones of their daily lives. These are reflected in the country’s gait, where variations and novelty keep the system stable, always anchored in the normality of its exceptionalness.