Posted 3/15/2024, 8:13:02 PM
US Productivity Hits Record High, May Help Curb Inflation as Wages Rise
- US worker productivity has hit an all-time high according to Bank of America analysis
- As productivity has increased, wage growth has also seen a slight increase meaning consumers are willing to spend more
- Higher productivity can help prevent inflation problems when wage growth rises
- Productivity gains may boost company margins and earnings
- Increased tech company spending on AI and cloud services could benefit other sectors like utilities and energy