Labor productivity measures the output per hour of labor input. The chart enclosed was drawn up from US Labor statistics, beginning in 1997, to provide a two decade time span.
The labor productivity trend is obviously deeply negative. US Labor Productivity (here measured as percent change from previous year) has been in a long term decline for going on two decades--over both Democrat and Republican administrations.
We await the 2019 numbers to be reported next year. Regardless, it is absolutely clear that we have systemic problems in the management of this nation's economy.
While we admittedly may over simplify, but these United States would produce MORE if we stopped working! Our labor production is negative!
Several things contribute to this labor production "inversion". Here, we rhetorically ask, "How did we come to this?"
