Why is the US economy pulling ahead of Europe?

In 2024, the average US worker is projected to generate $171,000 in economic output, surpassing the euro area, UK, and Japan. US labor productivity has grown significantly since 1990, outpacing other economies. Despite concerns about overstated productivity due to less holiday time, US workers still show a considerable gap in productivity growth. The US has shown superior long-term productivity improvements, contributing to its outperformance compared to other mature economies, particularly in the technology sector.

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