U.S. workers have gotten way less productive. No one is sure why.

K

kmgilroy89

https://www.washingtonpost.com/business/2022/10/31/productivity-down-employers-worried-recession/

"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's easy to see why we have inflation if we increase the money supply (increases demand) and worker productivity decreases (decreases supply).
 
kmgilroy89 said:
https://www.washingtonpost.com/business/2022/10/31/productivity-down-employers-worried-recession/

"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's easy to see why we have inflation if we increase the money supply (increases demand) and worker productivity decreases (decreases supply).
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I'm sure nothing has to do with the fact that employees are "working from home".
 
kmgilroy89 said:
Yes. I'm guessing you are asking that, because the drop was followed by a 2020 spike? However, they are expecting productivity to continue to decline through 2023.
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The article may read "productivity down" in its title but ironically makes the case for "exploitation is down" in the text.
 
Tsing Tao said:
I'm sure nothing has to do with the fact that employees are "working from home".
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Maybe the opposite is true because the correlation is as workers have returned to the office productivity has decreased compared to when they were working from home.
 
UsualName said:
Maybe the opposite is true because the correlation is as workers have returned to the office productivity has decreased compared to when they were working from home.
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I read that elsewhere. Heck, that NYT piece makes the case for it "productivity boomed post covid-19 in part due to remote work" or something along those lines.
 
Cuddles said:
I read that elsewhere. Heck, that NYT piece makes the case for it "productivity boomed post covid-19 in part due to remote work" or something along those lines.
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Idk. But common sense says productivity boomed with wfh then plunged as return to office then we might want to check our prior beliefs as biased.

To be fair, it could also just be workers are adjusting to the grind of the commute and less family time etc. Wait that seems like a bad thing.
 
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