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Ensuring Longer-Term Growth

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  • Tom Barkin

Abstract

The national economy looked very strong in 2018. But as we enter 2019, many people are asking how long this pace of economic growth can continue. Long-term economic growth depends on the number of people working and how productive they are. With slow population growth, future growth of the labor force may depend on people currently on the sidelines of the labor market. Opportunities to grow the workforce include policies to support women’s labor force participation, workforce development and legal immigration. Productivity growth also has lagged the past decade, perhaps due in part to business underinvestment and declining startup rates. Policymakers need to promote a healthy and stable environment for business investment.

Suggested Citation

  • Tom Barkin, 2019. "Ensuring Longer-Term Growth," Speech 101358, Federal Reserve Bank of Richmond.
    • Handle: RePEc:fip:r00034:101358
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    File URL: https://www.richmondfed.org/press_room/speeches/thomas_i_barkin/2019/barkin_speech_20190110
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