Quote:
Originally posted by Sparhawk
Do those spouting on about productivity gains adversely affecting job growth actually have some data to back up their conclusions? I don't doubt that we've had productivity gains in the last 2 years, I also know that we've had them in every single economic recovery since the New Deal - but somehow those recoveries also had a corresponding increase in job growth. It isn't an either/or proposition - except perhaps today in this recovery, which isn't really a recovery for labor, the correct definition would be a recovery of capital.
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Post recession productivity growth happens all the time. They just don't typically happen to this extent or for this long. Since 1992 we are almost 30% more productive per hour of output.
Here's a chart I made showing productivity (non-farm output per hour) gains in the 8 quarters after each recession since 1947. Data sources are the Bureau of Economic Analysis and Bureau of Labor Statistics.
