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InvisibleAnnapurna1
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workers get fleeced in 3Q...
    #7719589 - 12/05/07 12:56 PM (16 years, 1 month ago)

if you think your being intimidated more at work these days..its prolly not a figment of your imagination...at least thats what the numbers seem to suggest...

http://money.cnn.com/2007/12/05/news/economy/bc.economy.ap/index.htm?postversion=2007120509

Quote:

Productivity at fastest clip since '03

Output rises 6.3%, Labor Department says; easing wage pressures could alleviate Fed inflation fears, increase likelihood of another rate cut.
December 5 2007: 9:04 AM EST

WASHINGTON (AP) -- Worker productivity roared ahead at the fastest pace in four years in the summer while wage pressures dropped sharply.

The Labor Department reported Wednesday that productivity, the amount of output per hour of work, was up at an annual rate of 6.3 percent in the third quarter, the best showing since the summer of 2003, and far bigger than had been expected.

Meanwhile, wage pressures slowed with unit labor costs dropping at a rate of 2 percent in the third quarter, the biggest decline in four years.

The combination of stronger productivity growth and fewer wage pressures should ease concerns about inflation at the Federal Reserve and help clear the way for another cut in interest rates next week to guard against the threat the economy could tumble into a recession.

The 6.3 percent increase in productivity was a significant upward revision from an initial estimate a month ago of a 4.9 percent increase, reflecting the fact that total output was revised higher.

Investor hopes have been rising in recent days that the Fed will cut interest rates for the third time since September when officials hold their last meeting of the year next Tuesday.

Those hopes were bolstered by comments last week from Fed Chairman Ben Bernanke and Vice Chairman Donald Kohn. Both men noted that the economy is likely to slow considerably in the current quarter under the impact of such problems as renewed turbulence in financial markets.

While overall economic growth, as measured by the gross domestic product, roared ahead at a 4.9 percent rate in the third quarter, the fastest pace in four years, GDP is expected to slow to a barely discernible 1.5 percent or even less in the current quarter.




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Offlinegluke bastid
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Re: workers get fleeced in 3Q... [Re: Annapurna1]
    #7719614 - 12/05/07 01:09 PM (16 years, 1 month ago)

Productivity at work is up. This is a good thing.

Wages are going down. This is a bad thing.

Can you find any proof to suggest that there is a link between the two? I don't see any evidence of a correlation.


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:hst:
Society in every form is a blessing,
but government at its best is but a necessary evil
 
- Thomas Paine


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OfflinePhred
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Re: workers get fleeced in 3Q... [Re: Annapurna1]
    #7719959 - 12/05/07 02:42 PM (16 years, 1 month ago)

You would really do yourself a favor before making your next post on economic matters by first reading at least one decent basic economics text.

A drop in unit labor costs is not equivalent to a drop in wages. That is why two different terms are used for the two phenomena.

So no, no one is being either "fleeced" nor "intimidated".




Phred


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InvisibleAnnapurna1
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Re: workers get fleeced in 3Q... [Re: Phred]
    #7724333 - 12/06/07 12:41 PM (16 years, 1 month ago)



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"anchor blocks counteract the process of pontiprobation..while omalean globes regulize the pressure"...


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OfflinePhred
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Registered: 10/18/00
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Re: workers get fleeced in 3Q... [Re: Annapurna1]
    #7724695 - 12/06/07 02:05 PM (16 years, 1 month ago)

Okay... I read the dreck at that Lefty link, and that was five minutes of my life I'll never get back. Would you care to explain to the audience just how the Op-ed article at pospect.org supports your contention that the Q3 2007 productivity figures show American workers are getting fleeced and intimidated?



Phred


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InvisibleSlashOZ
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Registered: 10/20/06
Posts: 3,557
Loc: Following the water cycle
Re: workers get fleeced in 3Q... [Re: Annapurna1]
    #7728034 - 12/07/07 10:02 AM (16 years, 1 month ago)

productivity increasing is the biggest joke of an economic indicator ever.


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"Life sucks but in this really beautiful way" - Axl Rose
"Life's a bitch and then you die that's why we get high cuz you never know when you're gonna go." - NAS
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"Look up at me I am God, look down on me and I am evil, look at me I am you." - Charles Manson.
"Don't question my reality." - Me (as far as I know)


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