Productivity growth in the us economy

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Reference no: EM1373860

During March 2001 and March 2002, measured RGDP in the economy actually increased by about 2.5 percent, even though total employment in terms of hours worked declined through 1.8 percent and the unemployment rate increased sharply from 4.3 percent to 5.8 percent(The GDP Deflator only increased by about 1 percent - 1.4 percent during this period)(This tendency for employment to decline despite growth in RGDP continued up to and right through the summer of 2003)

1. What can you infer from this information about labor productivity growth in the United States economy during the period March 2001-March 2002? Give a numeric answer if possible and describe your answer in a few sentences.

Reference no: EM1373860

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