Economists largely confine themselves to three key factors - capital, labor and productivity - when explaining how and why a country grows.

The trend is still for healthy productivity growth between 2% and 2.5%, and unit labor costs are expected to only slowly rise over the coming year.

If productivity grows, the economy does well.

Plant closings [and increased] labor productivity won't address the root cause of profitless prosperity. The root cause is increasing excess supply, which is causing price deflation.

Labor costs are moderating, productivity is rising and pricing indicators are all very subdued.

The restaurant industry is the most labor-intensive industry in the country.