4 ms·
it reads "annual percentage change in labor output"... which I take to mean "rate of change of per capita productivity" over time, not actual measured productiv
by cashsterling 4y ago
it reads "annual percentage change in labor output"... which I take to mean "rate of change of per capita productivity" over time, not actual measured productivity.
So that graph does not say we've dropped below pre-pandemic levels.... according to this report (https://www.bls.gov/news.release/prod2.nr0.htm https://www.bls.gov/news.release/prod2.nr0.htm): "Output and hours worked in the nonfarm business sector are now 3.1 percent and 1.5 percent above their fourth-quarter 2019 levels, respectively."