In short: no. Profits are difficult to measure accurately, but the best method is to focus on domestic earnings outside the financial sector as a share of net value added. By that measure, the long-term trend has been in decline.
Skills and Future of Work
June 19, 2017
Fact of the Week: The Much-Publicized Gap Between Productivity Growth and Wage Growth Shrinks in Nearly Nine Out of 10 Industries When it is Calculated Correctly
The productivity-compensation gap all but disappears when using the correct output deflators to adjust workers' wages, writes John Wu in Innovation Files.
June 12, 2017
Fact of the Week: In the EU, Increasing R&D Investment Creates 30 Percent More Employment in High-Tech Firms than Medium-Tech Firms
In the EU, increasing R&D investment by one percent creates 30 percent more employment in high-tech firms than medium-tech firms, writes John Wu in Innovation Files.
June 5, 2017
The prevailing narrative that the U.S. labor market is experiencing an unprecedented rate of technology-driven disruption couldn’t be further from the truth, write Rob Atkinson and John Wu in Brink.
May 10, 2017
There is considerable confusion about the potential effects of emerging technologies such as robotics and artificial intelligence on employment. Rob Atkinson outlines 13 key points to understand about that interaction in HuffPost.
May 8, 2017
Contrary to popular perceptions, the labor market is not experiencing unprecedented technological disruption. In fact, occupational churn in the United States is at a historic low. It is time stop worrying and start accelerating productivity with more technological innovation.
May 8, 2017
There is considerable confusion about the potential effects of emerging technologies such as robotics and artificial intelligence on employment. This primer outlines 13 key points to understand about that interaction.
May 2, 2017
Fact of the Week: European Firms That Adopted Information Technologies Such as E-Commerce Platforms and Enterprise Resource Planning Systems From 2002 to 2008 Did Not Decrease Employment
When EU firms adopted various recent technologies such as e-commerce platforms from 2002 to 2008, employment did not decrease on average, writes John Wu in Innovation Files.
April 19, 2017
As long as the administration recognizes the need to continue attracting the world’s best and brightest—and takes a careful, “mend it, don’t end it” approach to carrying out the president’s order—the result can be beneficial for the U.S. economy, writes Adams Nager on MarketWatch.
March 23, 2017
In a presentation to Bruegel, Rob Atkinson explained that instead of fretting about tech killing jobs, we should be worrying about how to boost record-low productivity growth—the only sustainable way to increase living standards.
February 21, 2017
Fact of the Week: Other OECD Nations Invest Six Times More Than the U.S. on Active Labor Market Policies Such as Workforce Training and Skills Development
In 2014, other OECD countries invested 0.6 percent of their GDPs on active labor market policies, while the United States invested just 0.1 percent of its GDP. Moreover, the United States now invests less than half of what it did 30 years ago on such programs as a share of GDP, writes Stephen Ezell in Innovation Files.