U.S. Productivity Growth: The Slowdown Has Returned After a Temporary Revival
There was never any slowdown in productivity growth in U.S. manufacturing during the postwar period, and indeed there was an unprecedented explosion of manufacturing productivity growth between 1996 and 2004. But the share of the manufacturing sector in the total economy has declined from 30 to 10 per cent since the 1950s. The record for the other 90 per cent, consisting of all the economy outside of manufacturing, is far less encouraging; in non-manufacturing labour productivity growth fell from 2.95 per cent per year in 1948-72 to 1.29 per cent per year in 1972-96. After a brief revival to 2.63 per cent in the brief eight-year period 1996-2004, the growth rate slumped again to 1.47 in the past eight years. This examination of the data provides evidence that the revival of productivity growth associated with the dot.com revolution is over, that multifactor productivity growth in the total economy has returned to the rate achieved in the post-1972 slowdown years.
Volume (Year): 25 (2013)
Issue (Month): (Spring)
|Contact details of provider:|| Postal: 151 Slater Street, Suite 710, Ottawa, ON K1P 5H3|
Web page: http://www.csls.ca/
More information through EDIRC
|Order Information:|| Web: http://www.csls.ca Email: |
References listed on IDEAS
Please report citation or reference errors to , or , if you are the registered author of the cited work, log in to your RePEc Author Service profile, click on "citations" and make appropriate adjustments.:
- John W. Kendrick, 1961. "Productivity Trends in the United States," NBER Books, National Bureau of Economic Research, Inc, number kend61-1, September.
When requesting a correction, please mention this item's handle: RePEc:sls:ipmsls:v:25:y:2013:2. See general information about how to correct material in RePEc.
For technical questions regarding this item, or to correct its authors, title, abstract, bibliographic or download information, contact: (CSLS)
If you have authored this item and are not yet registered with RePEc, we encourage you to do it here. This allows to link your profile to this item. It also allows you to accept potential citations to this item that we are uncertain about.
If references are entirely missing, you can add them using this form.
If the full references list an item that is present in RePEc, but the system did not link to it, you can help with this form.
If you know of missing items citing this one, you can help us creating those links by adding the relevant references in the same way as above, for each refering item. If you are a registered author of this item, you may also want to check the "citations" tab in your profile, as there may be some citations waiting for confirmation.
Please note that corrections may take a couple of weeks to filter through the various RePEc services.