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According to the U.S. Labor Bureau of Statistics, "'''Labor productivity''' is a measure of [[Economics|economic]] performance that compares the amount of output with the amount of labor used to produce that output."<ref>[https://www.bls.gov/k12/productivity-101/content/what-is-productivity/what-is-labor-productivity.htm Productivity 101],  U.S. Labor Bureau of Statistics</ref>  

According to the U.S. Labor Bureau of Statistics, "'''Labor productivity''' is a measure of [[Economics|economic]] performance that compares the amount of output with the amount of labor used to produce that output."<ref>[https://www.bls.gov/k12/productivity-101/content/what-is-productivity/what-is-labor-productivity.htm Productivity 101],  U.S. Labor Bureau of Statistics</ref>  

[[File:Number of Hours An Average Workers Needs To Purchase A Median Price Home.PNG|center|thumb|650px|Since 1963, the amount of hours required to purchase a home have doubled.<ref>https://davidstockman.substack.com/p/the-housing-affordability-trapwhy-7a6</ref>]]

[[File:Number of Hours An Average Workers Needs To Purchase A Median Price Home.PNG|center|thumb|650px|Since 1963, the amount of hours required to purchase a home in the [[United States]] for the average wormer have doubled.<ref>https://davidstockman.substack.com/p/the-housing-affordability-trapwhy-7a6</ref>]]

Investopedia says about the importance of labor [[productivity]] to an economy, "Labor productivity is largely driven by investment in capital, technological progress, and human capital development. Labor productivity is directly linked to improved standards of living in the form of higher consumption. As an economy's labor productivity grows, it produces more goods and services for the same amount of relative work. This increase in output makes it possible to consume more of the goods and services for an increasingly reasonable price."<ref>[https://www.investopedia.com/terms/l/labor-productivity.asp Labor Productivity: What It Is, How to Calculate & Improve It], Investopedia</ref>

Investopedia says about the importance of labor [[productivity]] to an economy, "Labor productivity is largely driven by investment in capital, technological progress, and human capital development. Labor productivity is directly linked to improved standards of living in the form of higher consumption. As an economy's labor productivity grows, it produces more goods and services for the same amount of relative work. This increase in output makes it possible to consume more of the goods and services for an increasingly reasonable price."<ref>[https://www.investopedia.com/terms/l/labor-productivity.asp Labor Productivity: What It Is, How to Calculate & Improve It], Investopedia</ref>