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    What will the labor productivity growth rate be in 2023?

    Created by ghabs on {{qctrl.question.created_time | dateStr}}.

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    Question

    A useful measure of AI capabilities is the amount of economically valuable work that can be performed by AI. A possible outcome of growth in AI capabilities is labor becoming more productive, with increasingly capable automated systems significantly enhancing the value of individual workers.

    Since Q4 1948- Q3 2016 the average business cycle has seen a labor productivity growth rate of 2.3%.

    The Bureau of Labor Statistics definition:

    Labor productivity, or output per hour, is calculated by dividing an index of real output by an index of hours worked by all persons, including employees, proprietors, and unpaid family workers.

    What will the labor productivity growth rate be in 2023?

    The resolution index will be the BLS measure of non-farm business sector labor productivity, averaged over the reported quarterly growth rates for Q1-Q4 2023.

    https://www.bls.gov/lpc/

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