Determine the rate of labour productivity growth, Business Economics

1) Between mid 2008 and mid 2009 measured RGDP in the economy fell by 3.8% as the US economy sank into a recession. Over that same time period total employment in terms of hours worked declined by 7% and the unemployment rate rose sharply from 5.8% to 9.4%

What can you infer from this data about the rate of labor productivity growth in the US economy during this period? If possible give a numerical answer, but in any case explain your answer in a few sentences.

Posted Date: 3/29/2013 2:52:09 AM | Location : United States

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