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In a separate report, US workers continue to grow more productive although the rate of productivity growth has slowed since 2009.
Since 2007, the rate of productivity growth has been disappointing.
Result: Talent shortages could limit the rate of productivity growth.
Formerly, it was the rate of list-price increases and the rate of productivity gains.
Since 2007, the annual rate of productivity growth has averaged about 1.3percentnt.
Or that an anemic rate of productivity growth is a recipe for stagnation and class conflict.
But if the growth rate of productivity holds up, so will the economy's long-term outlook.
What we must understand instead is the determinants of productivity and the rate of productivity growth.
The rate of productivity growth in the private sector peaked in the mid-1960s.
The additional required floor space will return a higher rate of productivity.
The other option is to raise the rate of productivity growth, which looks no easier.
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