What's interesting for the US is that I've heard our wages are higher than most other places as well...
Its one reason why I have no time for US co-workers that cry about inflation while I know we have co-workers from places suffering through double digit inflation.
I remember having tea with a Turkish man and having him tell me with a straight face: "I'm not having any children with this inflation and economy. I just won't."
What's interesting for the US is that I've heard our wages are higher than most other places as well...
Its one reason why I have no time for US co-workers that cry about inflation while I know we have co-workers from places suffering through double digit inflation.
I remember having tea with a Turkish man and having him tell me with a straight face: "I'm not having any children with this inflation and economy. I just won't."
That cuts deep.
Yeah... cuts deeper than my eggs are expensive, I'm gonna get chickens.
You need to know the trend in hours worked to really say much from that.
Still, it’s cool that productivity is growing.
Given that it's from the CPS, I'm guessing this does factor in your hours worked.
What I'd like to know is how much of that productivity is real value creation and how much of it is make-work due to misallocated resources.
Bingo. So much of the "work" I see seems like misallocated resources.
It's an hourly wage rate, so what adjustment for hours worked do you think they're making?
oh nothing i think i just misinterpreted your initial comment
https://xcancel.com/StatisticUrban/status/1920228470715515356