Productivity, a key factor needed to boost living standards, has been lagging for most of this record-long expansion, now in its 11th year.
For the full year, productivity rose 1.3 percent, a small improvement from a 1.1 percent gain in 2017. It was the best showing since a 3.4 percent productivity surge in 2010.
U.S. productivity rose at a slower rate in the third quarter, but the increase was still better than the lackluster gains of the last decade.
In the aftermath of the Great Recession, the economy continues to grow, but it’s becoming obvious that unemployment isn’t going to nosedive the way it has after previous recessions.
Locally based consultancy LeadJen had 20 employees in January. Halfway through the year, the company already has hired 20
more, and President Jenny
Vance expects to add another 20 over the next six months.
The economy is getting closer to generating jobs for the first time in two years, but it probably won’t be enough to stop
the unemployment rate from rising well into 2010.