Productivity measures the amount of output produced per hour of work, according to a Dec. 10 BLS news release.
The third quarter of 2024 marked the fifth consecutive quarter with a productivity increase of 2% or greater. In the five years before the pandemic, only two quarters saw similar growth, The Wall Street Journal reported Jan. 2.
Faster productivity growth is often linked to faster economic growth, though the Journal noted the changes may reflect both pandemic-driven operational shifts and productivity gains from workforce reductions.
Hospitals and health systems are also exploring ways to boost productivity through artificial intelligence. For example, UChicago Medicine uses AI technology from Abridge to streamline clinical documentation, which has improved productivity and patient access.
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