Thursday, April 10, 2014

Sociological Images on American Working Hours

"     On average, U.S. workers with jobs put in more hours per year  than workers in most OECD countries. In 2012, only Greece, Hungary, Israel, Korea, and Turkey recorded a longer work year per employed person.

       A long work year is nothing to celebrate. The following chart, from the same Economist article, shows there is a strong negative correlation between yearly hours worked and hourly productivity. "
 Full article here

When you factor in the opportunity costs of time spent working, such as forgone unpaid work and social capital accumulation, the picture is probably even worse.

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