I think there's a very obvious reason for the "productivity drop": Return to Office I remember tons of studies showing that remote work had caused unprecedented increases in productivity so it seems plausible to me that companies ending it caused the productivity drop which caused the minor recession earlier this year (the big one due to the Fed's rate hikes is, I believe, still in the future). The article itself eve…
The BLS recently reported that at its peak, only 7% of Americans were working from home, so this demographic is probably too small to have much large scale impact on the productivity numbers. If there is stagnation in the productivity numbers, we should look at what the other 93% of workers are doing.
"Between 2019 and 2021, the number of people primarily working from home tripled from 5.7% (roughly 9 million people) to 17.9% (27.6 million people), according to new 2021 American Community Survey (ACS) 1-year estimates released today by the U.S. Census Bureau."
I Initially thought maybe the issue is average reported over years, but that does not seem to match either so I went to BLS[2] and the 7% number is there, but it is for for April 2022 and not its peak.
Chart data suggests double digit average.
Please correct me if I am misreading something.
[1]https://www.census.gov/newsroom/press-releases/2022/people-w... [2]https://www.bls.gov/opub/ted/2022/7-7-percent-of-workers-tel...