In a strong economy, hours and output can both grow, so long...

In a strong economy, hours and output can both grow, so long as output grows at a faster rate, thus resulting in productivity growth. But... productivity can also grow in a slowdown or recession, when a decline in hours outpaces weak or nonexistent output growth.

Jared Bernstein Quote About Both, Decline, Economy And Economics, Faster, Grows: In A Strong Economy Hours...

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