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Productivity is up and labor wages are up. That’s why I asked. It wasn’t an attempt at a rebuttal it was a request for reading material as it’s a heterodox view
by kasey_junk 1y ago
Productivity is up and labor wages are up. That’s why I asked. It wasn’t an attempt at a rebuttal it was a request for reading material as it’s a heterodox view.
The normal conversation is that productivity growth has slowed and the divide has increased, not that more productivity creates lower outcomes in real terms.
https://www.bls.gov/productivity/images/labor-compensation-labor-productivity-gap.png https://www.bls.gov/productivity/images/labor-compensation-l...
- djmips 1y agoWhat is 'real hourly compensation'?
- em500 1y agoIt's economic jargon for what people are paid per hour for working (which can include non-direct payments such as healthcare and pensions), adjusted for inflation (for economists, "real" just means divided by CPI, as opposed to "nominal" which are the actual dollar amounts in the past). Data is collected through the National Compensation Survey: https://www.bls.gov/respondents/ncs/ https://www.bls.gov/respondents/ncs/