The U.S. is becoming less competitive.
In the annual Global Competitiveness Report at the World Economic Forum, the U.S. fell to second place, just behind number one Singapore.
The report credited the state-of-the-art infrastructure in Singapore and the strong cooperation between labor and management.
The U.S. took a hit in the "healthy life expectancy" category and preparedness for the future skills needed in the 21st century.
Hong Kong, the Netherlands, and Switzerland round out the top five.
While slipping to second place, the report did find that the U.S. remains an "innovation powerhouse" and the world's most competitive large economy.
Access the complete Competitiveness Report here.
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