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1973年以后,美国和欧洲都出现了生产率增长的减慢。美国生产率增长的减慢是从六十年代后期开始出现的,比欧洲早得多。在美国,生产率增长的减慢最初从采矿和建筑这两个工业部门开始,这两个部门实际上出现生产率下降,而不只是增长率的下降。美国的生产率增长在1974年和1975年继续下降。在后来的两年中有所回升,但在以后的四年中生产率又趋于停滞。尽管如此,到1979年为止,美国的总产量和就业总人数都有巨大的增长;从1975年到1979年,
After 1973, there was a slowdown in productivity growth in both the United States and Europe. The slowdown in productivity growth in the United States started in the late 1960s, much earlier than in Europe. In the United States, the slowdown in productivity growth initially started with the two industrial sectors, mining and construction, which actually experienced declines in productivity, not just declines in growth rates. Productivity growth in the United States continued to decline in 1974 and 1975. It picked up in the following two years, but productivity tended to stagnate in the next four years. Nonetheless, by 1979, the total output and total employment of the United States had tremendous growth; from 1975 to 1979,