How have productivity gains been used?
We look at how hourly productivity gains have been used in the United States, the euro zone and France. If hourly labour productivity increases, this increase can be used to: Reduce working hours; Increase real per capita wages; Increase corporate profitability. We see that the increase in hourly labour productivity: Has been used everywhere to reduce working hours and increase real wages; In the United States, has been used to sharply increase corporate profitability. In the euro zone, productivity growth has been used to drive a slight increase in corporate profitability. In France, on the other hand, hourly productivity growth has been accompanied by a slight decline in profitability.