U.S. productivity rebounded in the final three months of last year but by a smaller amount than initially reported, while labor costs increased at a slower pace than first thought.
News headlines today: Mar. 5, 2020WASHINGTON --
For all of 2019, productivity was up 1.9%, the best annual showing in nearly a decade, since a 3.4% gain in 2010. Rising productivity along with growth in the labor market are also the two factors that determine the economy’s long-run ability to grow. Growth in the gross domestic product has been the slowest in this recovery of any in the post-World War 2 period.blamed that weakness on the Obama administration’s failed economic policies but so far, he has not been successful in making significant gains in GDP growth.
While economists have offered various theories on why the slowdown occurred, they can’t agree on a single culprit. But some have expressed hope that a recent modest acceleration in productivity may be the start of stronger gains in the future.
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