Show More Productivity Growth Needed To Aid Employment Report Says Long term productivity growth is a major factor in offsetting offsetting off off- setting the drastic increases es in inthe inthe inthe the price of energy and basic materials and in determining the growth of real earnings earning and the standard of living the National National National Na Na- Commission sion on Productivity Productivity Productivity and Work Quality says in its Fourth Annual Report Although US U.S. productivity i is still the highest in the world between 1973 and 1974 productivity productivity productivity pro pro- fell by 27 per cent This was the first decrease e in 25 years cars and only the second time dine since the thc that the average output yielded by an hour of work declined from one calendar year to the next Over the past 85 years year productivity productivity productivity pro pro- in America has shown an upward sweep at an nn average growth rate of 24 per cent compounded annually However However How Flow ever US U.S. productivity performance performance performance per per- has ha lagged behind most other industrial nations Business Busine s recovery will probably probably probably ably restore the rate of productivity productivity productivity growth to its hi historical trend but long term productivity productivity productivity improvement i is not preordained preordained preordained pre pre- ordained the report warns warn Productivity gains gain depend primarily manly marily marilyon yon on increased investment hy by individuals and bu business ines in training and education in capital capital cap cap- capital ital equipment and other means of raising efficiency the re report report re re- port notes A continued increase in increase in- in crea crease e in productivity depends upon the energy and ingenuity with which we manage all of our natural financial an and human hu hu- human man resources The report also points to the need for the thc government to underwrite un un- research re and development development development develop develop- ment programs program which arc too big to be he supported by hy individual ual indu industries and amI the responsibilities re responsibilities pon- pon of government regulatory regula tory Cory agencies a as they affect pro- pro Fear of the lo loss s of jobs iob an and unemployment ha has been a major major ma ma- jor source of resistance to productivity pro pro- Without I minimizing the serious problems of adjustment adjust adjust- ment to technological and other changes the report notes note that productivity and high employment employment employ employ- ment are arc interdependent Productivity Productivity Productivity Pro Pro- growth is vital to the economy in order to supply new jobs job and maintain existing ting ones and high employment rates are necessary for sustained sustained sustain sustain- e ed l productivity growth Therefore Therefore There There- fore fre more measures to increase job security must be pursued d. d |