management had more than $30trillion in assets. The New York Stock Exchange and Nasdaq are the world's largest stock exchanges by market capitalization and trade volume. Foreign investments made in the U.S. total almost $4.0trillion, while American investments in foreign countries total over $5.6trillion. The U.S. economy is ranked first in international ranking on venture capital and global research and development funding. Consumer spending comprised 68% of the U.S. economy in 2018, while its labor share of income was 43% in 2017. The U.S. has the world's largest consumer market. The nation's labor market has attracted immigrants from all over the world and its net migration rate is among the highest in the world. The U.S. is one of the top-performing economies in studies such as the Ease of Doing Business Index, the Global Competitiveness Report, and others. The U.S. economy experienced a serious economic downturn during the Great Recession, defined as lasting from December 2007 to June 2009. However, real GDP regained its pre-crisis (late 2007) peak by 2011, household net worth by Q2 2012, non-farm payroll jobs by May 2014, and the unemployment rate by September 2015. Each of these variables continued into post-recession record territory following those dates, with the U.S. recovery becoming the second-longest on record by April 2018. The U.S. ranked 41st in income inequality among 156 countries in 2017, the highest in the Western world. History Colonial era and 18th century The economic history of the United States began with British settlements along the Eastern seaboard in the 17th and 18th centuries. America after 1700 gained population rapidly and imports, as well as exports, grew along with it. Africa, Asia, and most frequently Europe, contributed to the trade of the colonies. These 13 colonies gained independence from the British Empire in the late 18th century and quickly grew from colonial economies towards an economy focused on agriculture. 19th century In 180 years, the U.S. grew to become a huge, integrated, and industrialized economy that made up around one-fifth of the world economy. As a result, the U.S. GDP per capita converged on and eventually surpassed that of the British Empire, as well as other countries that it previously trailed economically. The economy maintained high wages, attracting immigrants by the millions from all over the world. In the 1820s and 1830s, mass production replaced artisans with factories. New government regulations strengthened patents. In the early