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US Worker productivity is 0.7 standard deviations below its average over the last 3 years. It is 3.6% below all time high. It is higher now than at any point be
by jjk166 4y ago
US Worker productivity is 0.7 standard deviations below its average over the last 3 years. It is 3.6% below all time high. It is higher now than at any point before July of 2020. YOY Productivity growth has dipped negative and then went back to positive 20 times in the past 22 years.
To be concerned about the current level of productivity requires either the attention span or the intelligence of a goldfish.
https://tradingeconomics.com/united-states/productivity https://tradingeconomics.com/united-states/productivity
- fnordpiglet 4y agoShut up and work harder nerd.
- topspin 4y agoAlways read the comments first.
- rory 4y agoIt serves the important function of giving journos an opportunity to interview business consultants about what CEOs think of their employees' poop breaks. Which, in generating lots of hate clicks, is a huge economic boost in terms of Nonfarm Business Sector Labor Productivity!
- dfxm12 4y agoIt's just the corporation friendly mass media trying to combat calls for better worker treatment/compensation. This is just the next single from the album that brought us "quiet quitting", "the great resignation", "millennials are lazy", etc. It's important for the backers of these media outlets to float these stories out there, lest anyone become sympathetic to workers in light of the facts that minimum wage hasn't kept up with either inflation or productivity, that corporations are engaging in profit inflation, that the fed is intentionally raising rates to wrest back some power from workers, and so on.
- ryanwaggoner 4y agoAlso the cries for returning to the office
- spacemadness 4y agoI guess it’s helpful to own all the media when you need to spread your propaganda around.
- JJMcJ 4y agoYes, this is "proof" that remote work is less productive.
- dougmwne 4y agoLiterally one of these on the front page of the NYT today, fully of chirpy anecdotes about people ditching the sweatpants and silly comments about how much our dogs will miss us when we go back to "real work". You may kindly shove it, NYT. I'm not going back. https://www.nytimes.com/2022/10/29/technology/return-to-office-employee-satisfaction.html https://www.nytimes.com/2022/10/29/technology/return-to-offi...
- Nathanba 4y agoreally a bit hard to believe that these kinds of articles aren't paid for by some industry group
- Test0129 4y agoDo you believe they aren't for some reason? It's not like they release whose buying ads if you ask.
- codalan 4y agoIt is. The NYT Real Estate section is a pretty sickening read for most of the 99% who aren't totally disconnected from reality and don't have a million plus in cash to toss away on a second home. Every time I've read that section, it felt like product placement for luxury home realtors and commercial property owners.
- phone8675309 4y agoThe Washington Post is Bezos's mouthpiece - lower worker productivity hurts his bottom line so we have to suffer through his paper complaining about it.
- jessaustin 4y agoAlso Bezos would like to normalize the intense surveillance, speed focus, and corner-cutting that leads his warehouses to have injury rates 80% higher than the rest of the industry. https://thesoc.org/amazon-primed-for-pain/ https://thesoc.org/amazon-primed-for-pain/
- ummonk 4y agoWow. Much needed context.
- elihu 4y ago> "In the first half of 2022, productivity — the measure of how much output in goods and services an employee can produce in an hour — plunged by the sharpest rate on record going back to 1947, according to data from the Bureau of Labor Statistics." It annoys me that an article about a big drop in workplace productivity doesn't actually say how big the drop is. If it's only 3.6%, then that explains why they glossed over that part, as it would have undermined their narrative.
- aidenn0 4y ago> To be concerned about the current level of productivity requires either the attention span or the intelligence of a goldfish. It seems like the median journalistic piece assumes this of the reader anyways?
- tqi 4y ago> In the first half of 2022, productivity — the measure of how much output in goods and services an employee can produce in an hour — plunged by the sharpest rate on record. Given the sharpness of the drop, the timing with wonkiness in a whole slew of other economic indicators, it's bizarre to me that the author (and experts interviewed) would immediately assume that something changed with workers vs the metric is behaving weirdly.
- fny 4y agoAnd we still have GDP growth and no real signs of recession.
- xnx 4y agoThanks for adding some context. The "max" or 25 year view on that chart provides some perspective. Still unusual that there's been a recent decrease, but almost every measure of the economy has seen some really weird values in the past 2 years.
- 6stringmerc 4y agoI think a chart of the job titles of the dead / disabled from COVID with numbers would be incredibly useful. My niche has shot through the roof for demand salary and remote with no sign of turning back. My only macro explanation is 20% left the gig totally.
- hirvi74 4y ago> requires either the attention span or the intelligence of a goldfish Good thing I have both.
- ec109685 4y agoThat article was awful with just guesses left and right on causes, without even measuring how the number is calculated.
- ec109685 4y ago*mentioning rather.