Webbeen the key to raising per capita gdp, wages, and living standards. 2 now, as low birth rates slow the expansion of the labor force, increasing productivity, the output we get. Webproductivity is key to driving gdp growth and improvements in the standard of living. But where does productivity come from? Productivity is the ratio of output. Websyverson believes ai holds the key to unlocking the next wave of productivity growth. But more importantly, it has grown only slowly in the recovery, averaging just 0. 6% growth since 2011. Webthe drivers of the slowdown. Growth in output per hour worked can be decomposed in a growth accounting framework into three terms: Labour composition, representing the.
