Soaring Productivity Missing from the Stats

Looking only at the Bureau of Labor Statistics data, you might imagine that the level of productivity hasn't improved much. This is crucial, because productivity is a big part of the economic-growth equation.

However, based on nothing more than my own personal experience, and nearly everyone else I have asked about this, something quite different is happening -- productivity is soaring. Yet, there's nothing to be found in the official numbers. To paraphrase Solow, productivity gains are everywhere except in the productivity statistics.