Finally, as the expansion matures and hiring picks up, productivity growth tends to slow again as the level of employee effort returns to normal and as the need to devote firm resources to hiring and training new workers detracts from current production.
At present, three years from the official end of the 2001 recession, the U.S. economy has likely entered this latter stage, as productivity growth appears to be falling from its recent high levels to a rate that is likely below its longer-term trend.