US GDP Rose 3.6% in 2004-05 While Jobs Rose Only 1.4
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Output vs. Workers
Between October 2004 and 2005, real GDP in the United States
increased by 3.6 percent, while nonfarm payroll jobs increased by only
1.4 percent. How is it possible for output to increase without a
proportional increase in the number of workers? What are the
implications in our economy of more output being produced by less
workers? Respond to at least two of your classmates’ postings