Final answer:
U.S. labor productivity stayed high from 1999 to 2004 despite modest investment in IT, with a notable increase in the 1990s and early 2000s after a decline from the 1970s to the 1980s.
Step-by-step explanation:
Labor productivity in the United States remained relatively high despite a modest level of investment in IT from 1999 to 2004. This period saw significant changes in productivity growth rates, as reported by the Department of Labor. Initially, U.S. productivity growth was robust in the 1950s, averaging 3.2% annually from 1950 to 1970. However, it then experienced a decline in the 1970s and 1980s, dropping to a 1.9% growth rate annually. A resurgence in productivity occurred in the latter half of the 1990s and persisted through the early 2000s, where the rates climbed back to over 2.3%. Despite a slowdown after 2001, the growth remained relatively strong compared to the preceding decades.