US economy is doing what few others are: getting more productive

Many people in low-productivity jobs such as food service got laid off during the pandemic. (Image: 123rf).

Fri, 06 Dec 2024

By Matt GrossmanInflation and the labour market are cooling, but a subtle force has powered strong US economic growth nonetheless. Americans keep finding ways to get more done at work.As a result, many businesses have been able to do more with less and up their revenue without passing on higher costs to customers – a process that makes this trend, called productivity growth, a key ingredient for a low-inflation economic boom. Over the past two years, better productivity growth has helped the US power past similar economies such as the EU&...

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