Productivity doubled expectations in the fourth quarter as economic growth rebounded
Worker productivity boomed through the last three months of 2021 as the economic rebound accelerated and the Omicron wave started to swell.
Productivity also rose 2% from the fourth quarter of 2020, according to the report. That's the strongest one-year growth since the first quarter of 2021. The government's productivity index also ran at an annual growth rate of 2.2% from the fourth quarter of 2019. That exceeded the 1.4% average rate seen during the prior economic cycle, which ran from 2007 to 2019. It's also just above the long-term average growth rate of 2.1% seen since 1947, according to the report.
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