U.S. productivity growth, measured in terms of output per hour of labor has been anemic over the past several years. As indicated by writer David Harrison, since 1995, overall productivity has expanded at a compound annual rate of less than 1.8 percent. Remarkably, America’s construction sector is actually less productive now than it was in 1995 according to a study released by the McKinsey Global Institute.
Anirban has more of the story.
