5 ms·
Another piece of the puzzle is the big drop in labor productivity lately - https://fred.stlouisfed.org/series/OPHNFB https://fred.stlouisfed.org/series/OPHNFB.
by rendang 4y ago
Another piece of the puzzle is the big drop in labor productivity lately - https://fred.stlouisfed.org/series/OPHNFB https://fred.stlouisfed.org/series/OPHNFB. Could the data you mention be explained by workers previously being in jobs where they were unproductive, being laid off but then quickly reabsorbed by the hot labor market into more efficient lines of work?
- importantbrian 4y agoIsn't that just because of the steep rise in labor costs? It's just another sign of how strong the labor market is right now.
- colinmhayes 4y agolabor productivity is measured in output/hour, not output/dollar spent of wages.
- zeroonetwothree 4y agoIt’s a pretty small drop and there is a lot of noise in that metric.
- rendang 4y agoWhat do you think could be behind the noise in this case? It does look like the steepest drop in many decades, and more surprising when we read stories on HN about automation that would imply a baseline increase in productivity.
- ipaddr 4y agoThat's people going back into the office and lowering production
- AntiRemoteWork 4y ago
- deleted 4y ago[deleted]