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Title: Recovery Bummer: Productivity Falls in Spring, Labor Costs Rise
Source:
Big Government
URL Source: http://biggovernment.com/publius/20 ... -labor-costs-rise/#more-323712
Published: Sep 1, 2011
Author: Publius
Post Date: 2011-09-01 13:35:15 by Happy Quanzaa
Keywords: Obama-doma-ding-dong, Obamanomics in Action
Views: 7668
Comments: 12
From The Associated Press: Worker productivity fell this spring more quickly than previously estimated while labor costs were rising at a faster clip. Both developments could pose threats to a fragile economic recovery. The Labor Department reported Thursday that productivity declined at an annual rate of 0.7 percent in the April-June period, a bigger drop than the 0.3 percent decline reported a month ago. Labor costs rose at an annual rate of 3.3 percent, faster than the 2.4 percent increase originally reported. The changes reflected downward revisions made last week to overall economic growth which showed the economy’s output barely growing in the spring. Declining productivity, if it persists for a prolonged period, would represent a serious economic threat while rising labor costs would cut into corporate profits. Economists are forecasting that productivity will slow over the next couple of years while labor costs will increase. However, they don’t see these developments as worrisome during the current period of high unemployment and weak income growth. Read the whole thing here. Who exactly are these economists who can explain away mountains of bad economic data? It is very hard to get higher growth without rising productivity. Without higher growth, unemployment will remain high.
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Begin Trace Mode for Comment # 3.
#1. To: Happy Quanzaa (#0)
The source of your article seems to be breitbart.com.
And?
Breitbart has himself a reputation worth noting.
#4. To: lucysmom (#3)
Breitbart has himself a reputation worth nothing. There. I fixed it for you.
If you two weren't illiterate Useful Idiots you would have noticed that the article wasn't written by Brietbart or the poster Publius, it was written by Politburo approved AP.
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#2. To: lucysmom (#1)
The source of your article seems to be breitbart.com.
#3. To: Happy Quanzaa (#2)
And?
Replies to Comment # 3. Breitbart has himself a reputation worth noting.
#5. To: lucysmom, Skippy (#3)
From The Associated Press:
End Trace Mode for Comment # 3.
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