The story of the slowdown in Europe is about productivity growth and aging, but with substantial offsets coming from LFP and hours. Changes in labor market activity, in general, prevented the slowdown in Europe from being even more devastating. The gross changes in the components of growth (productivity, labor force participation, etc..) were massive in Europe between 1979-1999 and 1999-2019. They turned out to offset each other in many cases so that the net change in the growth rate of GDP per capita was “only” on the order of minus 1 percentage point for most of Europe. Related: Fully Grown – European Vacation!
- Date Posted:
- June 20, 2023
On the heels of Texas’ worst drought in a decade, a report from the High Plains Underground Water Conservation District shows water levels in the Ogallala Aquifer, also known as the High Plains Aquifer, have dropped consistently in the region over the last five years. With only a finite amount of water to be shared throughout the U.S. High Plains region — Texas, Colorado, New Mexico, Kansas, Nebraska, Oklahoma, Wyoming and South Dakota — the Ogallala running dry could have devastating consequences nationwide. The aquifer provides water for about 30% of the nation’s irrigation systems, boosting up the farms and ranches that supply a quarter of the nation’s agricultural production. And for 82% of the people who live within the aquifer’s boundaries, it supplies their drinking water too.