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Rekindling US productivity is a $10 trillion opportunity

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As we mark another Presidents’ Day in the US, business leaders and policy makers are striving to build a future that delivers sustainable and inclusive growth. But to make progress, they must also confront looming challenges—including workforce shortages, debt, inflation, and the cost of the energy transition. The tasks at hand are Herculean, but there’s one area of focus that can help: productivity. Returning labor productivity growth to its historical level would not only add $10 trillion to US GDP, but it would also help finance the net-zero transition, bring workers back to the job even as the population ages, and put the brakes on rising inequality, write Olivia White, Asutosh Padhi, Kweilin Ellingrud, Anu Madgavkar, and co-authors in a new McKinsey Global Institute report. Explore these insights for ways to revive the engine of US economic power and prosperity, and understand how companies, leaders, and society can work toward sustainable, inclusive growth in the US and beyond.

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