The Impact of Technology on Productivity in the United States over the Past Ten Years
Technology has not had the same significant impact on productivity over the last ten years in the United States that it had during the Information and Communication Technology (ICT) revolution from 1995-2004. Labor productivity has averaged less than half the annual average in the past ten years than it did in the previous ten year period.
While technology continues to create increases in productivity through the use of computers, robotics, sensors, GPS, mobile devices and more, the impact in the United States has levelled off and even dropped in some cases. Over the past ten years major technological innovations have been focused on social media and entertainment.
Technology has not had the same significant impact on productivity over the last ten years in the United States that it had during the Information and Communication Technology (ICT) revolution from 1995-2004. Labor productivity has averaged less than half the annual average in the past ten years than it did in the previous ten year period.
While technology continues to create increases in productivity through the use of computers, robotics, sensors, GPS, mobile devices and more, the impact in the United States has levelled off and even dropped in some cases. Over the past ten years major technological innovations have been focused on social media and entertainment.