Cathie Wood Says 3.6% Productivity Growth Could Fuel Higher Wages

Cathie Wood believes the ongoing technology revolution could create a win-win outcome for both businesses and workers as productivity gains accelerate:
- Productivity grew at an annualized rate of 3.6% last quarter, while unit labor costs declined 0.7%
- Hourly compensation growth came in just below 3%, a development Wood expects the Federal Reserve to monitor closely
- If productivity continues accelerating, Wood noted that stronger wage growth could follow, benefiting businesses, workers, and consumers alike