Since the beginning of the health crisis, apparent per capita labour productivity and hourly productivity have seen variations that are the mirror image of each other: per capita productivity fell and then recovered, driven by intense use of short-time working; hourly productivity, on the other hand, increased temporarily driven by a pronounced sectoral composition effect. In Q3 2021, these effects faded signifi cantly: per capita productivity and hourly productivity both returned to close to their pre-crisis levels. These variations should continue to return to normal over the coming period, but it is difficult at present to assess the extent of the potential for a rebound in (hourly or per capita) productivity in the short-to-medium term.