Capitalists And Money

New York working hours increase by 2.4% but productivity drops by 1.8%

A recent study by A.I. productivity platform Plus Docs, analysing the latest data from the Bureau of Labor Statistics (BLS), has found a 2.4% increase in working hours in New York for the period of 2022-2023, accompanied by a 1.8% decline in labor productivity.

Nationally, the average hours worked increased by 1.7%, and labor productivity saw a modest rise of 1.0%. This positions New York above the national average for the increase in working hours but contrary to the overall trend of rising productivity.

Daniel Li, CEO and co-founder of Plus Docs, commented on the findings, saying, “The states with the lowest working hours often emerge as the most productive due to several key factors: they prioritise efficiency, implement advanced technologies, and place an emphasis on employee wellbeing and work-life balance. In doing so, they maximise output without extending work hours and ensure their employees are well-rested and highly motivated, leading to greater overall productivity.

“Progressive labor policies and innovative workplace practices in these states contribute to an environment where productivity is driven by the quality of work rather than the quantity of hours spent working. This holistic approach not only boosts productivity but also enhances employee satisfaction and well-being.”

The findings from Plus Docs suggest that New York’s approach may benefit from a reevaluation to align more closely with states that have successfully increased productivity without extending working hours, thereby fostering a more balanced and efficient work environment.