Serge, I don’t know the answer to this, but… might it be possible that the productivity numbers increase is a function of the loss of jobs. So, less people in the workforce = companies find ways to output more per employee. If this is the case and productivity continues to increase for another quarter or so wouldn’t these same companies now have to rehire to account for this gain in productivity (too much work for one employee to continue to output)? ? ?
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