Compared to the 1948 - 1973 period, the period from 1973 to 1995 can be characterized as a period of

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The period from 1973 to 1995 was characterized by slower labor productivity growth compared to the 1948 - 1973 period. This was due to a combination of factors, including the oil shocks of the 1970s, rising competition from international markets, and slower technological progress in certain key industries. As a result, overall economic growth during this period was relatively sluggish, with real GDP growth averaging just 2.5% per year. Additionally, labor force growth was also lower during this period compared to the previous period, which further contributed to slower economic growth.

Compared to the 1948 - 1973 Period, the Period from 1973