Word: nonfarm
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Dates: during 1990-1999
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Economists point out that the Digital Revolution has not yet been reflected in productivity statistics. The annual growth of nonfarm productivity during the 1980s and 1990s has averaged about 1%, in contrast to almost 3% in the 1960s. But that may be changing. During the past year, productivity grew about 2.5%. And in the most recent quarter the rate was more than...
These days, though, Nethercutt is making exceptions for some Americans. During a recent session of the House Appropriations Committee, he helped beat back a proposal to cut crop subsidies to farm owners who earn more than $100,000 a year in nonfarm income, a measure known as the "Sam Donaldson Amendment,'' after the abc newsman who collected five-figure federal subsidies over the past two years to support his New Mexico sheep ranch. When asked why wealthy farmers should not help balance the budget, Nethercutt, sounding remarkably like Foley, replies that some spending programs are "just a sensible...
...once again the world leader in productivity -- output per worker-hour -- the most important measure of an economy's power to compete. After more than two decades of healthy annual advances, American nonfarm productivity growth declined and sometimes reversed after 1973. Last year it grew nearly 3%, much of it due to blood-curdling corporate restructuring that was marked by increased automation, layoffs and lower wages. "The Europeans have barely begun that process," says William Archey, a senior vice president of the U.S. Chamber of Commerce...
...deficit. Besides, Moynihan contends, the Social Security tax is one of the country's most regressive levies, putting a greater burden on middle- and low-level earners than does the income tax. "It's time the American worker got a break," he says. "Average weekly earnings for non-supervisory, nonfarm workers were lower in 1990 than they were...
...California's nonfarm economy, the drought's long-term effects will probably be more important than the immediate ones. "We will survive the drought," says Gary Burke, president of the Santa Clara County Manufacturing Group. "But what effect will the drought have on companies' plans to expand and new businesses' decisions to locate in Santa Clara...