Labor Productivity: What It Is, Calculation, and How to Improve It
Labor Productivity: What It Is, Calculation, and How to Improve It
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What Is Productivity and How to Measure It
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Since the 1970s, labor #productivity has grown at a faster rate than real hourly compensation, meaning gains in workforce efficiency have outpaced pay gains. This difference between real hourly #compensation and labor productivity is known as the "wage gap.” This gap indicates that worker’s wages and purchasing power have lagged behind labor productivity growth. Is there a #wagegap in your industry or state? See more data here: https://usafacts.org/articles/what-is-labor-productivity-and-how-has
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