productivity has fallen very sharply. The Bureau of Labor Statistics data, which start in 1964, show that productivity has risen by 1.45 per cent a year since 1964 but only by 0.47 per cent over the past three years
Our results demonstrate a general slowing down in the rate of convergence of labor productivity in the latter years of this period. The sectoral analysis also indicates that manufacturing was the primary driver of convergence during the 1987–1997 period, which had the highest rate of convergence;...
Unit labor costs among nonfarm business fell by 1.4% in Q3 2013, while hourly pay rose by 1.6%. Over the past four quarters unit labor costs increased by 2.1%. The Bureau of Labor Statistics (BLS) defines unit labor costs as “the ratio of hourly compensation to labor productivity; increa...
US Productivity Falls at 0.1 Percent Rate in Fourth Quarter More The Associated Press In this Monday, July 10, 2017, photo, a man works on a paving and landscaping project at a home in North Andover, Mass. On Thursday, Feb. 1, 2018, the Labor Department issues revised data on ...
WASHINGTON (AP) — U.S. productivity fell a sharp 2.5% in the first three months of this year as labor costs jumped 4.8%.
rising labor participation rates since the 1990s, bolstering their total economic growth, labor participation in the United States has declined by 4 percent since its peak in 1998. This adds a further headwind to economic growth, and one to be confronted in concert with reviving productivity. ...
Disparities in the economic growth and labor productivity among the EU,US and Japan started to emerge in the mid-1990s.This paper makes use of the EU-KLEMS database to explore the determinants of the disparities from two aspects:factor decomposition and industrial sectors.Seen from the first asp...
US Productivity Grows at Faster 2.9 Pct. Rate Labor costs dropped at a rate of 1.9 percent, more than the 0.1 percent dip initially estimated.Productivity was revised higher because economic growth was faster in the third quarter than first estimated, while hours worked were ... BM Crutsinger...
The growth rate of labor productivity, which measures the quantity of output produced in a hour worked, has been constantly decreasing in Europe since the mid ‘70s whereas it has been sharply increasing in US; eventually, the latter overtook the former in 1995. There is a ongoing debate amon...
Over the past one to two decades, labor productivity in the US healthcare industry has declined; between 2001 and 2016, the industry contributed 9 percent of US economic growth but 29 percent of job growth. Previous McKinsey analysis has shown that if the healthcare delivery ind...