, Columnist
Don't Look Now, But Productivity Is Finally Rising
The U.S. economy is accelerating its expansion without more workers or inflation. There's one long-awaited explanation.
Businesses that can't find workers will finally invest in productivity.
Photographer: Daniel Acker/BloombergThis article is for subscribers only.
It's the puzzle perplexing central bankers, investors and financial writers: How has the U.S. economy accelerated its expansion in recent months without a big drop in unemployment and with core inflation falling?
The logical conclusion is that productivity growth has finally picked up, a development with big implications for the economy.