The US Economy’s Strange Decade
Weak productivity growth helps to explain the continued robust rates of job creation in the United States, as well as workers’ sluggish wage gains. If left unresolved, the productivity malaise will ensure that the current expansion remains uniquely unbalanced and unhealthy.
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ZURICH – The current US economic expansion is extraordinary. Not only does it rival the longest on post-war record, but, unlike previous periods of sustained growth, it has not unleashed much inflation. Corporate profits have soared to unprecedented levels. And economic inequality in the United States is at its most extreme in a half-century.