Each direct job creates additional jobs (Credit: U.S. Bureau of Economic Analysis and Bloomberg)

The Council on Competitiveness has released its 6th annual Clarion Call for Competitiveness, noting that "innovation-driven productivity is the foundation of a competitive, growing economy and well-paying jobs."

This report is designed to help decision-makers grasp where America stands, what is changing, and what can be done to encourage widely shared prosperity. The drivers of such productivity, however, evolve continually in the form of new technologies, new skills, strategic investments and critical infrastructure - including physical, digital, and policy infrastructure. Recent growth in productivity and GDP coupled with ongoing low unemployment are encouraging trends that could be harbingers of stronger workforce participation and wage increases for all Americans. A focus by policymakers on tax reform, regulations, and manufacturing is an encouraging sign that should lead to additional investment in the United States.

To sustain long-term growth, however, decision makers must also invest in critical skills, infrastructure, and research - and do so within a larger framework that addresses the federal deficit and debt. Finally, in an increasingly integrated world economy, free and fair trade is essential for a strong U.S. economy.

Read the full 2017 Clarion Call and view the infographic.