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August 10, 2004

Productivity Surges Unexpectedly

The Worst Recovery Ever just keeps on producing strong numbers:

Nonfarm business productivity rose at a 2.9 percent annual rate in the second quarter, the Labor Department (news - web sites) said, well ahead of the 2 percent gain expected by Wall Street.

Labor costs also rose, which is portrayed in the article as "bad" (in that it adds to inflationary pressures), and yet I'm not sure it's such a bad thing that workers are getting paid more. Doesn't that usually indicate a tightening labor market? That ol' supply and demand thing?


Guess what?


digg this
posted by Ace at 01:13 PM

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