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by fintechjock
1322 days ago
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Maybe an even simpler explanation is that productively is roughly calculated as GDP / employed workers. Productivity almost always goes up in a recession, especially one accompanied with massive layoffs (like early COVID). Productivity is going down right now compared to 2020 because we are pretty much at full employment. These productivity measurements aren’t really tracking individual productivity at all. |
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So the measurement during periods of recession or expansion will always be artificially elevated or suppressed.