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Shanthi Rexaline

Paul Krugman: ‘Quiet Quitting’ Is ‘Biting The Dust’ As Non-Farm Productivity Growth Accelerates To 3-Year High

Paul Krugman United States Joe Biden Vigo

Nobel Laureate in Economics 2023, Paul Krugman (l), and the mayor of Vigo, Abel Caballero (r), during a conference at the Vigo Global Summit 2023 at the Auditorio Mar de Vigo, on June 27, 2023, in Vigo, Pontevedra, Galicia (Spain). Noted economist and Nobel laureate Paul Krugman on Thursday took stock of one specific data point to illustrate economic momentum. PHOTO BY JAVIER VAZQUEZ/GETTY IMAGES

Noted economist and Nobel laureate Paul Krugman on Thursday took stock of one specific data point to illustrate economic momentum.

Preliminary second-quarter productivity report released by the Bureau of Labor Statistics Thursday showed a 3.7% quarter-over-quarter increase in non-farm productivity. This marked the fastest pace of increase since the third quarter of 2020 and compares to a revised 1.2% decline in the first quarter.

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