Employment in manufacturing in July was down 3.4 percent from its February 2020 level.Credit…Libby March for The New York Times For most of the last 15 years, the United States economy was mired in a period of low productivity growth. Who would have guessed that the pathway out of it might include a pandemic?
Yet that is what the numbers show. Since the second quarter of 2020, labor productivity — the amount of output per hour of work — has risen at a 3.8 percent annual rate, compared with 1.4 percent from 2005 to 2019. New data published Tuesday showed […]
Full Post at www.nytimes.com