Nonfarm business sector labor productivity increased at a 2.6 percent annual rate during the fourth quarter of 2010, the U.S. Bureau of Labor Statistics reported today.You can find the full report here.
But, what we need is for unemployment to go down.
Regards — Cliff
Unfortunately, these stats are derived from accounting results, and, as such, fail to distinguish between, for example, the sale of on-hand inventory as opposed to the sale of produced goods, so they have to always be taken with a huge grain of salt and a very careful eye. It's one of the many reasons why encouraging "stats" like this aren't nearly so often accompanied by other useful and positive changes. Right now, we'd be better off for this particular stat to be going down, not up, given the way it's calculated.
ReplyDeleteAgreed, but clearing of the market has to start some time for employment to go up.
ReplyDeleteRegards — Cliff