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(-0.1 percent). The average annual rate of nonfarm business sector productivity growth from 2007 to 2019—corresponding to the current business cycle—is 1.3 percent, which is below the long-term rate from 1947 to 2019 of 2.1 percent. Unit labor costs in the nonfarm business sector increased 2.0 percent in 2019, reflecting increases of 3.8 ................
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