Economic growth derives from the input of labor and productivity. Productivity gains have slowed in the U.S. over the past decade, making a growing labor force critical. Eventually, the impact of the U.S. tax cuts will cease to be felt, as will other temporary economic stimulants, and the U.S. will return to a path of low growth. More workers, on the other hand, might add to the Labor Day cheer by restoring workers’ prestige within the economy.
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