NEWS

The United States’ competitiveness ranking among major economies rose to third place Wednesday in new results of an annual global survey.

The World Economic Forum report said the U.S. improved its competitiveness for the second consecutive year, moving up two places based on gains in the nation’s institutional framework, including its financial markets, and its innovation scores.

The U.S. ranked high in labor market efficiency, efficient use of talent and capacity to attract and retain that talent, along with the availability of financial services, the report showed.

Only Switzerland and Singapore finished higher in the overall rankings. In order, Finland, Germany, Japan, Hong Kong, the Netherlands, the United Kingdom and Sweden rounded out the top ten.