Jobs, Productivity and the Great Decoupling. Cambridge, Mass. A WONDERFUL ride has come to an end. For several decades after World War II the economic statistics we care most about all rose together here in America as if they were tightly coupled. G.D.P. grew, and so did productivity — our ability to get more output from each worker. At the same time, we created millions of jobs, and many of these were the kinds of jobs that allowed the average American worker, who didn’t (and still doesn’t) have a college degree, to enjoy a high and rising standard of living.
Productivity growth slowed in the 1970s but revved up again in the 1990s and has stayed strong most years since. We are creating jobs, but not enough of them. Photo As the jaws of the snake opened, wages suffered even more than job growth. What’s going on? As we move ahead the Great Decoupling will only accelerate, for two reasons.
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