The figures for productivity in the second quarter came out this morning. According to the government, productivity fell by 0.9%, the first decline in that number since the worst days of the recession.
This is a very ominous sign. It means that rather than the economy expanding so that the same workers are producing more output and the need for workers is growing, the opposite is true. Recovery Summer touted by the Obamacrats seems to working out where the only recovery is in the unemployment rate. Numbers like the one today indicate that unemployment will be going up, not down.
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