How productivity in California compares to other states
According to several key indicators, economic conditions deteriorated in the United States in 2020. Unemployment fell from an annual average of 3.7% to 8.1%, gross domestic product fell by 3.5% and businesses across the country have closed their doors for good. There were a few bright spots, however, and one of them was labor productivity, which has increased in much of the country. Here’s a look at the economies of the states hardest hit by the COVID-19 recession.
Although the total number of hours logged by American workers, as well as total output, declined in 2020, the average value of a single hour of work increased in 45 states. Using data on total productivity and total hours worked, 24/7 Wall St. calculated labor productivity in each state.
In California, labor productivity was around $ 86 per hour of work, making it the fourth most productive state in the country.
Improvements and differences in productivity across states may be due to a number of factors, including technological advancements, the capital available to workers, and the education and skill level of the workforce. ‘artwork. In line with the general trend, productivity increased 6.1% in California in 2020 compared to the previous year.
All data for this story comes from the Bureau of Labor Statistics. Productivity values have been adjusted for inflation in 2012 dollars for more accurate comparisons, state-to-state and year-to-year. Only the private sector, non-agricultural labor was taken into account. They are the most and least productive states in America.
|Rank||state||Dollars generated per hour worked, 2020 ($)||1 year change in productivity (%)|
|42||Caroline from the south||53.63||+2.8|