Productivity puzzles, or are we seeing a miracle?

Here is the ever-insightful Brad DeLong on why the current productivity and employment data are so hard to understand. Read Brad here and here (a longer, more technical post) for more context. The key point is this: many companies are prospering, and increasing absolute output, even as they are laying off workers. The implied numbers for productivity increases, per remaining worker, are simply astounding.


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