Standard of living in the United States
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The standard of living in the United States is one of the highest in the world by almost any measure. On measures such as the UN Human Development Index the United States is always in the top ten, currently ranking number ten, though generally ranked lower than the Scandinavian countries, Ireland, Belgium, Canada, Australia, and (until recently) Japan; Canada and Norway have alternately held the top spot for some time. On the Human Poverty Index the US is ranked lowest among the selection of 17 wealthiest countries, scoring low on all counts but long term unemployment.
The United States measures better under some measures of standard of living than others. Americans are some of the wealthiest people in the world, with a very high GDP per capita. Americans are top in the world for most material possessions.[[Citing sources citation needed]] The numbers of televisions, vehicles, and other such products per person are considerably higher than in any other country. For instance, the United States has some 754 televisions for every thousand people; no other major state is even above 700, with Japan being closest at 680/1000.[[Citing sources citation needed]]
The United States also consistently has one of the lowest unemployment rates in the world, usually only beaten by Japan;[[Citing sources citation needed]] however, the measures used to establish such a rate are controversial and may not always be comparable among countries.
While the United States' mean wealth is one of the highest of any major country and its median income is near the highest in the world with $43,318 per household, there is a largely unequal income distribution. Most of the wealth in the United States is held by the upper middle and upper class. The United States also has more people below the defined poverty line than 26 other countries; however, the measures used to establish a poverty line are controversial and may not always be comparable among countries. The wealthiest ten percent of Americans are 15 times richer than the bottom ten percent. In Japan, for instance, the ratio is only 4.2:1. Some regard this imbalance as a product of the United States' long policy of having a more free market economy, while other countries are more ready to sacrifice net wealth in favor of economic equality.
See also
- Household income in the United States
- Economy of the United States
- Human Development index
- Gross domestic product
US related topics
References
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