Figure 5. Capital services and labor hours: average annual growth rates for selected periods, private nonfarm business sector, 1948–2018
Period	Capital services growth	Labor hours growth
1948–60	3.4	0.7
1960–73	4.6	1.7
1973–81	4.7	1.4
1981–97	4.2	1.8
1997–2005	4.5	0.4
2005–18	2.5	0.7
Long-term historical average (1948–2018)	3.9	1.2
Source: U.S. Bureau of Labor Statistics.