Growth in output per hour worked can be decomposed in a growth accounting framework into three terms:

Webthe drivers of the slowdown.

2 now, as low birth rates slow the expansion of the labor force, increasing productivity, the output we get.

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But where does productivity come from?

Webbeen the key to raising per capita gdp, wages, and living standards.

Webproductivity is key to driving gdp growth and improvements in the standard of living.

Websyverson believes ai holds the key to unlocking the next wave of productivity growth.

Labour composition, representing the.

Productivity is the ratio of output.

But more importantly, it has grown only slowly in the recovery, averaging just 0. 6% growth since 2011.

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