Growth in the USA - Need to grow the hours

Continuing my study of growth factors in various countries around the world, we come to the USA.

Between the years of 2000 - 2011 we have potential growth at an average of 1.46% a year. Not a great result, but the interesting thing is that they have done it with absolutely no growth in Labour hours. The growth has come from capital (1% a year) and Total Factor Productivity (around 0.46% a year). Annual hours worked has stayed exactly the same as 2000 levels.

So the next step in the US journey of growth has to be hours worked. They need to get the punters working. If they can boost that, and maintain their capital investment and TFP (always a strength in the US), they can get back on top.