"Economist Robert Barro (also in 2016) reported "the growth rate of GDP per worker from 2010-15 was 0.5% per year, compared with 1.5% from 1949 to 2009."" (I assume he used real GDP, which is what I will use).
When I did the numbers for 2010-2015, I got 1.207% for the average. I also did 1948-2009 (don't know why Barro starts in 1949 since there is data that starts in 1947 but it does not matter very much since that first year is pretty close to the overall average). For 1948-2009 I got 1.826% for an average. That is still a pretty big difference (and those years include recessions which 2010-2015 does not.
For 2016-2017, the rates were -.178% (yes, minus) and .95%. That would bring down the Obama average (if we consider that 2017 was still affected by his policies but it is not easy to know when Obama's policies stop having an effect and Trump's begin).
Here are the annual rates from 2001-2017. After that is a timeline chart going back to 1948. The chart of simply GDP per worker (2012 is the base year).
| 2001 | 0.97% |
| 2002 | 2.08% |
| 2003 | 1.93% |
| 2004 | 2.67% |
| 2005 | 1.70% |
| 2006 | 0.93% |
| 2007 | 0.75% |
| 2008 | 0.33% |
| 2009 | 1.28% |
| 2010 | 3.16% |
| 2011 | 0.97% |
| 2012 | 0.38% |
| 2013 | 0.81% |
| 2014 | 0.79% |
| 2015 | 1.13% |
| 2016 | -0.18% |
| 2017 | 0.95% |
Now GDP per worker
3 comments:
"When I did the numbers for 2010-2015, I got 1.207% for the average."
You should have gotten 1.203%, not that it matters much.
1.0316 * 1.0097 * 1.0038 * 1.0081 * 1.0079 * 1.0113 = 1.074365 and then 1.074365^(1/6) = 1.01203, not 1.01207.
This .00004 error should haunt you until your last days.
I did the simple average of the six annual changes. But thanks for reading and posting
Also, I just happened to notice today that your comment was left a few days ago. I am supposed to get an email when people make comments but this has failed again as it did earlier this year. I had reset things and it seemed to be working so I will have to reset it again
Post a Comment