U.S. Productivity Growth
Between 1965 and 1973, U.S. annual productivity growth (measured as output per hour worked) averaged 1.5%. This is in sharp contrast to the 0.72% rate recorded since 1973. In the last five years, productivity growth has slipped even further, averaging and anemic 0.17%.
Suggested citation: “U.S. Productivity Growth,” Federal Reserve Bank of Cleveland, Economic Trends, no. 97-03, pp. 10, 03.01.1997.