U.S. worker productivity fell sharply in the second quarter, its biggest annual drop since 1948, even as employers spent more on labor and added more jobs
This drop in productivity per worker in Biden’s America is a really bad sign. It means that employers have to pay more to get the same work product at a time when the amount of people available to hire remains more than half a million people below February of 2020.
Fewer workers + higher labor costs + lower productivity per worker = higher prices for consumers and recession. The Biden economic formula at work.