Notes: […] “Net productivity” is the growth of output of goods and services less depreciation per hour worked.
[…]
What is productivity, and why did pay and productivity once climb together?: Productivity measures how much income is generated (for workers, business owners, landlords, and everyone else together) in an average hour of work in the economy. […]
What are the units for productivity? 🤔
“Percent change” according to the axis label. “Hourly compensation” is also in units of “percent change” which also kind of reeks.
Percentage is a ratio, i.e. X units per 100 units. I’m asking what those units are in the first place.
Probably money, and probably turnover.
Typically connected to production & revenue, divided by worked hours
From the link in the image:
Thanks. So… dollars I guess?
I would say % change since 1948 of $/hour since 1948, for both, productivity and compensation.