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Posted by: Michael Mandel on December 11
As you folks know, I’m still worrying about a slowdown in productivity growth. Here’s an interesting new chart from the New York Fed
The bar represents the probability of being in a “low productivity growth” state, given observable data on real labor compensation per hour of work and real consumption expenditure divided by hours of work. The chart shows that the probability of a productivity slowdown has risen.
Michael Mandel, BW's award-winning chief economist, provides his unique perspective on the hot economic issues of the day. From globalization to the future of work to the ups and downs of the financial markets, Mandel-named 2006 economic journalist of the year by the World Leadership Forum-offers cutting edge analysis and commentary.