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Strategies & Market Trends : Waiting for the big Kahuna -- Ignore unavailable to you. Want to Upgrade?

To: William H Huebl who wrote (51652)	5/14/2001 11:43:52 PM
From: Skeet Shipman	Read Replies (1) \| Respond to of 94695

Hi Bill, From the economist.com. Labour productivity growth in America’s non-farm business sector rose to an annual average of almost 3% over the five years to 2000, up from 1.4% between 1975 and 1995. This faster productivity growth has been the lifeblood of claims about the new economy. It helped to deliver faster GDP growth with low inflation, higher profits and a large budget surplus. One of the hottest debates in economics for the past few years has been about how much of this increase in productivity growth was structural and how much of it was cyclical. During boom times firms tend to work their employees harder, producing a cyclical rise in productivity growth, which then declines during the subsequent recession. Robert Gordon, an economist at America’s Northwestern University, and one of the most outspoken new-economy sceptics, reckons that outside the manufacture of computers and other durable goods there has been no increase in labour productivity growth after adjusting for the effects of the economic cycle. As a result, he estimated last year that America’s structural productivity growth was somewhere around 2%. For raw figures stats.bls.gov Skeet