The growth rate of real per capita output is the sum of the growth rate of per capita labor input and productivity growth.

实际人均国民生产总值的增长率是人均劳动投入增长率与生产力增长的总和。

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The planner will move labor out of sectors where productivity growth exceeds demand growth and into sectors where demand growth exceeds productivity growth.

计划者将把劳力转移出生产率增长超过需求增长的部门并移入需求增长超过劳动率增长的部门。

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The GDP growth outlook was based on consensus projections of 1 percent average annual productivity growth and labor force growth of 1.3 percent or less.

GDP增长的前景是基于对这样的目标的一致认同：1%的平均年生产力增长和1.3%或更少的劳动力增长。

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Flat money growth does not cause inflation especially when we have enormous slack in the economy along with rapid productivity growth and declining unit labor cost.

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Therefore, strong labor demand in an environment of falling growth and productivity translates into falling profits and margin compression.

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But typically at this stage of the cycle, labor has already taken over from productivity as the major contributor of growth.

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