April 6, 2021

THE BEST THING FOR THE ECONOMY SINCE Y2K:

U.S. worker productivity seems to be rising, thanks to the pandemic. Also, workers say the pandemic has sapped their productivity (Peter Weber, 4/06/21, The Week)

"After a decade-long drought, worker productivity might be about to accelerate thanks to pandemic-induced technological adoption, which could lift economic growth and wages in coming years while staving off inflation pressure," The Wall Street Journal reports. Investments in productivity-boosting technology and automation, combined with a shift from bricks-and-mortar retailers to e-commerce and steep losses in lower-paying jobs in less-productive sectors, are "enabling companies to raise productivity, which is defined as output per hour worked," the Journal explains.

U.S. productivity should also be boosted by white-collar workers not having to travel to conferences or even the office, thanks to widespread adoption of teleconferencing and other remote-work software, some experts told the Journal. "Happier workers are more productive people," said Bart van Ark, director of the Productivity Institute in the U.K. "People who have more energy and are less tired are more productive people, as well."

Y2K, likewise, forced massive technology upgrades. 

Posted by at April 6, 2021 8:34 AM

  

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