The US economy is currently in a low labor productivity regime, averaging just 0.6% growth since 2011 and productivity is not going to improve anytime soon, that’s according to Joseph Song US Economist at Bank of America.
Labor Productivity Growth: Underpressure
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Today, there are multiple factors affecting labor quality. On the one hand, the share of the prime-age workers is declining as Baby-Boomers begin to retire. On the other hand, a greater share of workers are obtaining college degrees or higher, and the trend looks broadly positive. What’s more, technological developments should...
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