In 2023, the finance, insurance, real estate, rental, and leasing industry contributed the highest amount of value to the GDP of the U.S. at 20.7 percent. The construction industry contributed around four percent of GDP in the same year.
Between 2019 and 2023, oil and gas explorers and producers logged the highest total revenue worldwide, reaching 5.3 trillion U.S. dollars. Life and health insurance carriers followed behind.
As of January 2024, the most profitable industry in the United States was money center banking, with a profit margin of 30.89 percent. The profit margin of the regional banking was not too far off, with a net profit margin of 29.67.
In 2023, the GDP of Rhode Island totaled around 63.28 billion U.S. dollars. The finance, insurance, real estate, rental, and leasing industry added the most real value to the gross domestic product (GDP) of the state, amounting to around 15.24 billion U.S. dollars. Comparatively, the manufacturing industry contributed around 4.57 billion U.S. dollars to the state's real GDP.
In 2023, the government and government enterprises industry added the most real value to the gross domestic product (GDP) of the District of Columbia, amounting to around 44.91 billion U.S. dollars. Comparatively, the information industry contributed around 12.89 billion U.S. dollars to the district's real GDP.
This statistic shows the top ten industries of high-growth companies in the United States as of 2016. In 2016, about 13.1 percent of U.S.-based high-growth companies were specialized in information technology services.
In 2023, the finance, real estate, insurance, rental, and leasing industry added the most value to the GDP of the United States. In that year, this industry added 5.66 trillion U.S. dollars to the national GDP.
Gross Domestic Product
Gross domestic product is a measure of how much a country produces in a certain amount of time. Countries with a high GDP tend to have large economies, for example, the United States. However, GDP does not take into consideration the cost of living and inflation rates, so it is not a good measure of the standard of living. GDP per capita at purchasing power parity is thought to be more reflective of living conditions within a particular country.
U.S. GDP
California added the largest amount of value to the real GDP of the U.S. in 2022. California was followed by Texas and New York. In California, the professional and business services industry was the most valuable to GDP in 2022. In New York, the finance, insurance, real estate, rental, and leasing industry added the most value to the state GDP. While the business sector added the highest value to the U.S. real GDP in 2021, it was the information industry that had the biggest percentage change in value added to the GDP between 2010 and 2021.
In 2023, the education and health services industry employed the largest number of people in the United States. That year, about 36,4 million people were employed in the education and health services industry.
Education and Health Services Industry
Despite being one of the wealthiest nations in the world, the United States has started to fall behind in both education and the health care industry. Although the U.S. spends the most money in both these industries, they do not see their desired results in comparison to other nations. Furthermore, in the education services industry, there was a relatively significant wage gap between men and women. In 2019, men earned about 1,070 U.S. dollars per week on average, while their female counterparts only earned 773 U.S. dollars per week.
Employment in the U.S.
The 2008 financial crisis was a large-scale event that impacted the entire world, especially the United States. The economy started to improve after 2010, and the number of people employed in the United States has been steadily increasing since then. However, the number of people employed in the education sector is expected to slowly decrease until 2026. The overall unemployment rate in the United States has decreased since 2010 as well.
In 2023, the GDP of New Hampshire amounted to around 93.47 billion U.S. dollars. The finance, insurance, real estate, rental, and leasing industry added the most real value to the gross domestic product of the state, amounting to 20.36 billion U.S. dollars. Comparatively, the mining, quarrying, and oil and gas extraction industry added around 155 million U.S. dollars worth of value to the state's GDP.
In 2023, the GDP of New Mexico amounted to around 110.32 billion U.S. dollars. The government and government enterprises industry added the most real value to the gross domestic product of the state, amounting to around 24.72 billion U.S. dollars. Comparatively, the manufacturing industry contributed around 4.2 billion U.S. dollars worth of value to the state's real GDP.
In 2023, the GDP of Vermont totaled around 35.24 billion U.S. dollars. The finance, insurance, real estate, rental, and leasing industry added the most real value to the gross domestic product (GDP) of the state, amounting to around 6.58 billion U.S. dollars. Comparatively, the construction industry contributed around 1.06 billion U.S. dollars in value to the state's real GDP.
The gross domestic product of Missouri amounted to around 348.5 billion U.S. dollars in 2023. In that year, the manufacturing industry added 41.41 billion chained 2017 U.S. dollars of value to the state GDP.
The gross domestic product (GDP) of North Carolina in 2023 was around 638 billion U.S. dollars. In the same year, the construction industry added around 25.6 billion chained 2017 U.S. dollars of value to the state GDP.
In 2021, the agriculture sector contributed around 0.94 percent to the Gross Domestic Product (GDP) of the United States. In that same year, 17.61 percent came from industry, and the service sector contributed the most to the GDP, at 76.4 percent.
In 2023, around 678.2 billion 2017 U.S. dollars was added to the GDP of Georgia across all industries. In that year, the finance, insurance, and real estate industry was the most valuable, contributing 142.75 billion U.S. dollars. The utilities industry added a further 11.42 billion chained 2017 U.S. dollars of value to the state GDP.
In 2023, the GDP of South Carolina totaled around 262.3 billion U.S. dollars. The finance, insurance, real estate, rental, and leasing industry added the most real value to the gross domestic product (GDP) of the state, amounting to around 53.75billion U.S. dollars. Comparatively, the construction industry contributed around 11.86 billion U.S. dollars of value to the state's real GDP.
In 2023, the GDP of Utah totaled around 225.46 billion U.S. dollars. The finance, insurance, real estate, rental, and leasing industry added the most real value to the gross domestic (GDP) product of the state, amounting to around 47.4 billion U.S. dollars. Comparatively, the construction industry contributed around 14.83 billion U.S. dollars of value to the state's GDP.
In 2023, the GDP of Oklahoma totaled around 207.92 billion U.S. dollars. The government and government enterprises industry added the most real value to the gross domestic product of the state, amounting to around 32.78 billion U.S. dollars. In the same year, the retail trade industry contributed around 11.99 billion U.S. dollars worth of value to the state's GDP.
In 2023, the GDP of South Dakota totaled around 57.28 billion U.S. dollars. The finance, insurance, real estate, rental, and leasing industry added the most real value to the gross domestic product (GDP) of the state, amounting to around 13.81 billion U.S. dollars. Comparatively, the construction industry contributed around 2.23 billion U.S. dollars of value to the state's real GDP.
By the year 2033, it is projected that the number of employees working in services for the elderly and persons with disabilities around 613,700 employees. Additionally, the computer systems design and related services workforce is expected to grow by around 487,600 workers.
In 2023, the finance, insurance, real estate, rental, and leasing industry contributed the highest amount of value to the GDP of the U.S. at 20.7 percent. The construction industry contributed around four percent of GDP in the same year.