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The answer is "yes," according to a McKinsey Global Institute (MGI) report. "Even productivity from efficiency gains can lead to higher employment," report authors opine, "if the cost savings are put back to work elsewhere in the economy." MGI's report describes seven major imperatives to get there. Bottom line: To match GDP growth of the past 20 years, as well as rising living standards, the U.S. must boost labor productivity growth at a pace not seen since the 1960s. Do you think that's possible?
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Re: Can Productivity Climb Without Eliminating Jobs?
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