Wrong. Productivity is simply the value of goods/services produced by a worker divided by the number of hours worked.
"Those are paid hours, or part of the cost of goods sold. If you are working 60 hours a week and getting paid the same amount that you were being paid for 40, that's productivity."
There it is, this is happening and few are willing to address it. I can show you people, and I am one of them, working 60 hours for far less than the people who were doing the same job 3 years ago were paid for forty hours. This is fact and it is happening at other places as well. On top of this current employees are expected to also turn out more work per hour. The reason for the overtime is that people leave at the first opportunity and we are never fully staffed.