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Is the Productivity Crisis Coming to an End?
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Global labor productivity growth stabilized in 2016 vis-à-vis 2015, bringing the ongoing decline of the past 4-5 years to a halt. However, when looking at total factor productivity (TFP) growth, negative growth rates persisted into 2016 though at slightly more moderate levels than in 2015 – as weak employment and capital growth overcompensated the slowdown in global output growth. For 2017 we project a moderate uptick in labor productivity growth due to cyclical forces, though by no means a return to pre-crisis growth rates or the long term trend. US labor productivity growth improves significantly from its 2016 performance, as labor growth – especially total hours growth – is expected to slow more due to tightening labor markets.
Who Should Attend:
Those interested in business, finance and economics.
Brian Schaitkin is a Senior Economist in U.S. Economic Outlook & Labor Markets at The Conference Board. He is part of a team working to expand The Conference Board’s previous work on labor shortages. In addition, he will be leading efforts to expand coverage of regional economies in the...Full Bio
Ataman Ozyildirim, Ph.D.
Ataman Ozyildirim is an economist and director of business cycles and growth research at The Conference Board. He joined The Conference Board in 1999 as part of the Global Business Cycle Indicators Program that produces The Conference Board Leading Economic Index®...Full Bio
Bart van Ark
Bart van Ark is executive vice president, chief economist, and chief strategy officer of The Conference Board. He leads a team of almost two dozen economists in New York, Brussels, and Beijing who produce a range of widely watched economic indicators and growth forecasts and in-depth global econo...Full Bio