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Industry output and employment projections to 2016.

The article examines the growth of industry output and employment for the period 2006-2016 in the U.S. It shows the combined macro effects of slower growth in both productivity and the labor force. An annual growth rate of 1.0% is projected for nonagricultural wage and salary workers. Growth in both...

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Published in:Monthly Labor Review Vol. 130; no. 11; pp. 53 - 86
Main Authors: Figueroa, Eric B., Woods, Rose A.
Format: Article
Published: US Department of Labor Nov2007
Subjects:
United States
Employment
Wages
Labor supply
Supply & demand
Industrial productivity
Labor market
Industries
Growth rate
Online Access:View this record in EBSCOhost
Summary:The article examines the growth of industry output and employment for the period 2006-2016 in the U.S. It shows the combined macro effects of slower growth in both productivity and the labor force. An annual growth rate of 1.0% is projected for nonagricultural wage and salary workers. Growth in both employment and output is slower than the respective annual growth rates of 1.3% and 3.0% in the 1996–2006 period. In addition, it expects the long-term shift of employment from the goods-producing to the service-producing sectors to continue.