McKinsey Global Institute
Why we can't forget about productivity
This past week brought the latest productivity data for the US economy, which show that in the third quarter, productivity grew at a 1.9 percent annual rate, the same as in the second quarter (revised). As we noted in last year's report on US Growth and Renewal bit.ly/SPgojE, to deliver the rise in living standards that previous generations of US citizens have enjoyed, the US economy needs to raise productivity to about 2.3 percent annually.
Why we can't forget about productivity
This past week brought the latest productivity data for the US economy, which show that in the third quarter, productivity grew at a 1.9 percent annual rate, the same as in the second quarter (revised). As we noted in last year's report on US Growth and Renewal bit.ly/SPgojE, to deliver the rise in living standards that previous generations of US citizens have enjoyed, the US economy needs to raise productivity to about 2.3 percent annually.