Reasons for slower growth since 2000 are debated by economists and may include aging demographics, slower population and growth in labor force, slower productivity growth, reduced corporate investment, greater income inequality reducing demand, lack of major innovations, and reduced labor power. The U.S. ranked 20th out of 220 countries in GDP per capita in 2017. Among the modern U.S. Presidents, Bill Clinton had the highest cumulative percent real GDP increase during his two terms, Reagan second and Obama third. The development of the nation's GDP according to World Bank: U.S. real GDP grew by an average of 1.7% from 2000 to the first half of 2014, a rate around half the historical average up to 2000. By economic sector Nominal GDP sector composition Nominal GDP sector composition, 2015 (in millions of dollars) at 2005 constant prices Nominal GDP Sector Composition, 2016 (in millions of dollars) at current prices. Employment There were approximately 160.4 million people in the U.S. labor force in 2017, the fourth largest labor force in the world behind China, India, and the European Union. The government (federal, state and local) employed 22 million in 2010. Small businesses are the nation's largest employer, representing 37% of American workers. The second-largest share of employment belongs to large businesses employing 36% of the U.S. workforce. White collar workers comprise 44% of the workforce as of 2022, up from 34% in 2000. The nation's private sector employs 85% of working Americans. Government accounts for 14% of all U.S. workers. Over 99% of all private employing organizations in the U.S. are small businesses. The 30 million small businesses in the U.S. account for 64% of newly created jobs (those created minus those lost). Jobs in small businesses accounted for 70% of those created in the last decade. The proportion of Americans employed by small business versus large business has remained relatively the same year by year as some small businesses become large businesses and just over half of small businesses survive for more than five years. Amongst large businesses, several of the largest companies and employers in the world are American companies. Amongst them are Walmart, which is both the largest company and the largest private sector employer in the world. Walmart employs 2.1 million people worldwide and 1.4 million in the U.S. alone. There are nearly thirty million small businesses in the U.S.. Minorities such as Hispanics, African Americans, Asian Americans,