Why The U.S. Has A Productivity Problem
321,186
Published 2023-08-25
Chapters:
00:00 — Introduction
01:49 — How productivity gets measured
05:46 — State of U.S. productivity
12:00 — Downsides of sluggish productivity
13:54 — What's next?
Produced by: Jeff Huang
Edited by: Dennis Donovan
Graphics by: Christina Locopo
Supervising Producer: Jeff Morganteen
Additional Production: Lindsey Jacobson, Mark Licea, Brad Howard
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Why The U.S. Has A Productivity Problem
All Comments (21)
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"If you produce twice as much per hour, you're gonna get paid twice as much per hour." -Guy who hasn't worked a real job in 30+ years
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They always want to blame the lower level workers and never look at how higher level people spend their day
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US productivity led the world for years while wages remained stagnant. Workers noticed that the fruits of increased productivity all went to executives and shareholders. If it doesn't matter how hard you work then it doesn't matter how hard you don't. As a machinist for 23 years who went back to school to become a technology manager I saw both sides.
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If you want people to be productive, pay them enough so that they're motivated to produce.
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I literally laughed when thay one guy said "If you're producing twice as much, you're likely making twice as much" 😂😂 I work my ass off and my pay went up 1.5% between 2022 and 2023.
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If you want a real answer don't ask the men in suit, ask the people whose productivity is supposedly "going down".
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Low morale, bad bosses, burn out, wages that don’t cover basics, no job security, no growth path, hostile work environment, ageism, companies that don’t want to hire, train or promote, take your pick.
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What I noticed most about this is the increasing wage gap and the disparity between the average worker and the top executives aren't discussed at all as a potential factor for slowing production. When workers feel valued they work harder, but for so long wage growth for workers has stagnated while we hear about massive bonuses in the tens of millions for a chosen few. Companies are more worried about benefiting investors than they are about benefiting their employees.
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Maybe people are tired of putting in all the extra hours just to see the workers being treated like SH*T. The pandemic showed everyone how little we are appreciated.
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As proven in countries like Japan, working more doesn’t always mean getting more productivity. It has diminishing results past a certain point. Also you know… everyone broke af.
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We're working harder more now than ever! I work 50 hours a week and still feel behind. My team is seriosuly understaffed. It's crazy!
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CNBC is in the tank for the 1 percent. That's all you need to know about this video.
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"No one is sure why." Treating workers like disposable slave labor instead of with respect and with equal pay to CEOs. Everyone finally woke up during the pandemic and we can't and won't go back. Time to treat people like human beings instead of as slaves.
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My productivity is in the toilet. With no raises on the horizon, I am super unmotivated to excel, so I do enough to go under the radar. Id love a shorter work week and compress my work into 3 or 4 jam-packed days rather than 5 8-hour days.
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We are already in the big crash, Inflation is a catastrophe. This CPI report is a colossal failure. To bring the housing market to a halt, the FED will have to pull all the stops. The unfortunate issue is that other markets are being decimated. If you want to stay green, you have to rely on a lot of diversification. Currently up 14% and being careful. Still a better deal than leaving it in a savings or checking account yielding 0-1 percent interest.
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A loss of productivity is worth it when in exchange you get quality of life for the workers
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After raises and inflation net pay is down. Not hard to see why individual productivity is down. You get what you pay for.
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It’s not about productivity, it’s more about who’s closest to the money printer. Politicians can raise their wage and invade other countries at the expense of taxpayers and unlimited money printing while not acknowledging increase pay in average Americans
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Tired of employers underpaying us. Profit sharing should be mandatory for companies earning more than $10mm per year or more.
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Work from home is absolutely a productivity enhancement because I don’t have to make small talk with people I don’t care about. And maybe if people could make enough money to live instead of being saddled with student loans and high housing costs, high rent, and high utilities, they’d be more productive.
