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?

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.



SimpleStacker

charts_and_numbers

"Wages, adjusted for inflation and housing, are higher than they've ever been."

k00b

You need to know the trend in hours worked to really say much from that. 

Still, it’s cool that productivity is growing. 