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Productivity is affected by changes in capital equipment, materials, the mix of labor skills and output, efficiency, and technological change. In the early post World War II period, American productivity grew at an average annual rate of three per cent. About one-third of the growth resulted from increases in investment in physical plant and equipment, about one-third from improvement in labor force quality and shifts in inter-sectoral resource allocation, and the remainder from technological change and advances in knowledge...
Fred Walden, vice president of Local 26, said yesterday the union will stick to its original list of demands, including a 20-per-cent raise, improved fringe benefits and additional holidays...
...University originally offered a three-year contract with successive 10- 9- and 8-per-cent wage increases, but the dining hall workers voted down the proposal in March. The union's current contract expires June...
...bears scars from destruction in World War II, and from political division. Yet its growth rate is substantially above America's. This January, in its economic report to parliament, the German federal government made its predictions for economic performance this year: GNP was expected to increase 2.5 per cent, unemployment was expected to remain between 3 and 3.5 per cent, and consumer prices would rise by just 4.5 per cent. How does one explain such an enviable record...
...plant and equipment in Japan was already approximately the same as in the United States, and it may be expected to surpass American investment in absolute terms shortly. This is not surprising given the fact that the Japanese savings rate, which had been averaging about 20 per cent a year, has been well above that the last several years while the American savings rate, which had been averaging about six per cent a year, has now fallen to below four per cent. Japanese productivity continues to increase while American productivity has stagnated...