Journal Article
Labor productivity growth across states
Abstract: Labor productivity growth, a measure of output per unit of work, is closely tied to gains in wages and living standards, and it provides a direct measure of a country?s competitive position over time. The same holds true for states. Since the last business cycle peak in 2000, states boosted their average labor productivity growth to 2.3 percent. In Ohio, this growth came as a result of modest output growth accompanied by sharp employment losses. Although this has been a painful transition for the Fourth District, solid productivity gains have made the remaining firms and workers more competitive and may prepare the way for future growth.
Keywords: Federal Reserve District, 4th; Labor productivity; Economic conditions;
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Bibliographic Information
Provider: Federal Reserve Bank of Cleveland
Part of Series: Economic Commentary
Publication Date: 2005
Issue: Jun
Order Number: 1