Nathan Simon, Director, Lead for Strategy & Operations Consulting Research
Published: Sep 11, 2015
The Productivity Imperative and Strategy & Operations Consulting
The U.S. Bureau of Labor Statistics released its revised nonfarm business sector labor productivity results last week. The quarterly figure, although revised up, was still only up 0.7 percent versus the same quarter last year. How can S&O consultants help their clients to change the productivity trajectory?
The U.S. Bureau of Labor Statistics released its revised nonfarm business sector labor productivity results last week. The quarterly figure, although revised up, was still only up 0.7 percent versus the same quarter last year.
The trend of U.S. labor productivity during the post-Second World War period evidences alternating eras. During the two decades immediately following the war, annualized productivity growth exceeded 3%. Growth fell to 1.5% during the 1970s and 1980s, but jumped to 2.5% between 1990 and the onset of the global financial crisis in 2007. Since then, growth averaged only 1.3 percent.