The labour market and productivity are both supply side constructs and have an impact on the long term growth path of the economy.
Here are two stories from the New York Times: One is a personal story and the other a data story.
Basically as labour markets get tight (or as unemployment declines) wages tend to increase. Unfortunately they are not. Not just in the US but also in some other European countries.
The articles put it down to skills and the decline of unions. Skills are shifting from the middle to the low and high end. This is a structural problem. Its no wonder Singapore always emphasizes skills upgrading. At the end of the day we should expect inequality to increase. Partly also due to the gig economy.
The other is a scary story from the UK - productivity growth has declined - which means long term growth will decline. Here is the full report from the The Office for Budget responsibility. But if you don't want to read that, watch this video they posted on twitter.