But here the figures show an opposite trend to the share markets. The average growth rate in the last decade has been 2.3 percent. This compares with a growth rate of 2.7 per cent in the business cycle of the 1980s, 3.2 percent in the 1970s and 4.4 per cent in the 1960s. The rate of jobs growth has also been slower, increasing by only 1.6 percent in the 1990s. This compares with 1.8 per cent in the 1980s, 2.5 percent in the 1970s and 2.8 percent in the 1960s.
Productivity growth shows the same tendency.
While it has risen to 1.2 percent in the 1990s, compared to 1 percent in the 1980s, this is well below the 2.5 percent annual productivity growth recorded in the period from 1947 to 1973. The WSWS invites your comments. Please send e-mail .