Labor productivity remains below COVID-19 pandemic levels after its first increase year-over-year was announced Thursday since 2021, with experts citing Biden administration regulations as one of the causes for the lackluster results.
Nonfarm business labor productivity reached 1.3% growth year-over-year for the second quarter of 2023 after declining for five straight quarters starting with the first quarter of 2022, according to the Bureau of Labor Statistics. The Biden administration has imposed a large amount of regulations that have hindered productivity, and the recent return to modest growth is in spite of these costly regulations , experts told the Daily Caller News Foundation.
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