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PRODUCTIVITY   •  Oct 2024  •  Volume 13 / Number 8
The rise in remote work since the pandemic and its impact on productivity

The rise in remote work since the pandemic and its impact on productivity

The COVID-19 pandemic brought about dramatic changes in the work environment. Although 6.5 percent of workers in the private business sector worked primarily from home in 2019, the pandemic was the start of a massive experiment in full-time remote work for most workers and firms. People often ask: are workers more productive or less productive when working from home?

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Recent articles
EMPLOYMENT & UNEMPLOYMENT

Did the COVID-19 pandemic affect real earnings? Analyzing average hourly earnings and inflation before and after the onset of the pandemic

In this Beyond the Numbers article, we will examine historical trends in real average hourly earnings and inflation before (March 2006–February 2020) and after (February 2020–February 2024) the onset of the COVID-19 pandemic. We will analyze real earnings at the total private and major industry levels, with additional detailed analysis for selected industries. The article also looks at the impact average weekly hours had on changes in real average weekly earnings at the total private and major industry levels. This can help inform whether the average private-sector worker’s earnings have maintained their purchasing power following the onset of the pandemic.

PRODUCTIVITY

A “tail” of productivity in pet care services: new technology enables rapid growth

If Fluffy, Spot, or Fido is a beloved member of your household, you are not alone—approximately 62 percent of Americans own a pet. And if your household is like the average pet owning household, you spent about $770 on your pet in 2021. So, what are these dollars paying for? According to the 2021 Consumer Expenditure survey, vet services and pet food account for 35 and 33 percent of total spending on pets, respectively. Other spending on pets is allotted to pet purchase, supplies, and medicine (23 percent) and pet care services (9 percent). Although pet care services accounts for the smallest share of pet spending, both output and employment in the industry have grown rapidly in recent years.

PRICES & SPENDING

Debunking 8 common misconceptions about the Producer Price Index

The Producer Price Index (PPI) program is a broad measurement tool that comprises around 10,000 indexes that track the average changes in selling prices for goods, services, and construction. It aims to reflect sales to all types of buyers while measuring price movements from the perspective of producers. The belief that the PPI is a single index is a common misconception, implying that there is a single, topline index covering the whole producing economy. Misconceptions such as this can contribute to other misunderstandings about the PPI and its role in tracking inflation.