Figure 3.15 Percenta ge Deviations from Trend in Average Labor Productivity (black line) and Real GDP (co lored line) for 1948-2015 Average labor productivity is procyclical and coincident, and it is less variable than is real GDP Source: Data from U.S. Department of Commerce, Bureau of Economic Analysis, and Bureau of Labor Statistics, Stephen D. Williamson ALP GDP -8 1940 1960 1970 1980 1990 2000 2010 2020 1950 Year Percentage Deviation From Trend

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