DRIVEN BY PRODUCTIVITY AND CENTRAL BANK Size of global workforce Indexed global productivity Fed funds rate 4B 150 10% 8 3 6 2 125 4 1 2 0 100 0 198 1996 2002 2006 1990 19 0 1990 2000 2008 95 2000 2005Sep2008 Source: Federal Reserve, International Labour Organization
Startups and the Economic Downturn Page 6 Page 8