Potential Problem
06/04/2015 | | bow-tied economist, econ70, Economic forecasting, economist on radio, economist on TV, eisenberg and economics, Eisenberg and housing economics, Eisenberg and public speaking, Elliot eisenberg, entertaining economist, funniest economist, funny housing economist, Graphsandlaughs, graphsandlaughs and eisenberg, Great public speaking economist, housing sales, MLS, mortgage banking, Multiple listing service, politics and economics, Public speaking economist, www.econ70.com
Despite being about to begin the seventh year of an economic recovery, GDP growth has averaged a lackluster 2.2% the entire time, profoundly lower than in previous recoveries. The reason, a combination of slow labor force growth, primarily due to an aging population, and virtually no labor productivity growth due to firms not investing in plant and equipment. If both these variables remain weak, GDP growth above 3% won’t happen.