Study: Five US Game Changers for Growth & Renewal

The United States will need to increase infrastructure spending by 1 percentage point of GDP on a sustained annual basis to compensate for past underinvestment and set the stage for future growth which equates to additional investment of $150 to $180 billion annually for the next 15 to 20 years, the report added. Twenty-six trillion in investments will be needed in the energy sector by 2030 to sustain current energy trends, reiterated The International Energy Agency (IEA).

If this objective is met, a short-term stimulus effect would occur, adding $270 to $320 billion to annual GDP between now and 2020 and creating up to 1.8 million jobs.

The last opportunity the report mentioned is talent.

“One source of America’s historic economic prosperity has been the high-skill and education of its workforce,” quipped Nyquist. “But this edge is now eroding as other nations surpass the United States.”

MGI found that four initiatives can produce more career-ready workers with good job prospects. First, expand the number of apprenticeships and non-degree training programs that give workers marketable skills and credentials.

“This is particularly important for the millions of Americans currently looking for work, and especially the long-term unemployed.”

Secondly, a concerted focus is needed on importing learning and labor market outcomes for graduates of two- and four-year post-secondary institutions. By doing this, it will provide better and more transparent information about career pathways and outcomes so that students can choose the most appropriate and effective programs, the report added.