September 04, 2013
FOR IMMEDIATE RELEASE
(Washington, D.C) –The World Economic Form today published its annual Global Competitiveness Report on the long-term economic health of nations worldwide. When it comes to national competitiveness, after slipping in the rankings for four years in a row, the United States has reversed the trend and has gone from 7th place last year to 5th this year.
“While this uptick in the competitiveness rankings is an encouraging sign, mainly driven by restored confidence in the U.S, financial markets; there’s still cause for concern,” said Deborah Wince-Smith, President & CEO, Council on Competitiveness. “Though the U.S. remains the most innovative economy in the world – we must acknowledge and tackle the issues that continue to undercut our advantages, such as the corporate tax rate and the need for fiscal reform to curb our national debt and invest strategically. Americans also must address the fact that many businesses say they can’t find workers with the education and skills needed to secure high-paying jobs in our complex, technology-based economy.”
“While this uptick in the competitiveness rankings is an encouraging sign, mainly driven by restored confidence in the U.S, financial markets; there’s still cause for concern,” said Deborah Wince-Smith, President & CEO, Council on Competitiveness. “Though the U.S. remains the most innovative economy in the world – we must acknowledge and tackle the issues that continue to undercut our advantages, such as the corporate tax rate and the need for fiscal reform to curb our national debt and invest strategically. Americans also must address the fact that many businesses say they can’t find workers with the education and skills needed to secure high-paying jobs in our complex, technology-based economy.”
For more information on the World Economic Forum’s Global Competiveness Report, click here.
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