Productivity is soaring

California’s unemployment rate is at record lows (3.9% in October) while the workforce is bigger than it’s ever been. Of the 19.4 million Califfornians currently looking for work or working, 18.6 million are on the job. In fact, the state’s productivity, meaning economic output per labor hour, is at record highs. According to the Bureau of Labor Statistics, California contributed more than any other state to America’s growth. The productivity rate grew 1.7% from 2007 to 2017.