Worker Productivity Slows While Layoffs Climb

[UpInArms]

http://www.usnews.com/usnews/biztech/articles/061205/5productivity.htm

Slower-than-expected growth in worker productivity and labor costs reported today by the Labor Department could ease inflation concerns at the Federal Reserve.

Worker productivity increased by 0.2 percent for the third quarter of 2006, better than the zero change in the preliminary numbers released last month but down considerably from the 1.2 percent growth in the second quarter. Productivity is a key measure of living standards; when it increases, companies can pay employees more without having to raise prices, thanks to the increased output.

Labor costs for the third quarter grew at a 2.3 percent pace, down from the 3.8 percent preliminary estimate the Labor Department released last month.

<snip>

Nevertheless, there are still signs of concern in the labor market as the economy continues to slow. According to an independent report from Challenger, Gray & Christmas also released today, planned layoffs rose 11 percent in November—75,733 jobs lost, up from 69,177 in October. The increase was fueled by cuts in the auto industry, which accounted for 20,318 planned layoffs. Car manufacturers in the United States have already passed the 2001 record in planned job cuts (133,686), tallying 151,457 through the first 11 months of this year.

...more at link...

[Democrats_win]

1. Another tale of two worlds: RW media is all over manufacturing today.

USA Today is claiming that there are many jobs in manufacturing and CBS news did a story on Caterpillar and how America's manufacturing dollars is almost twice Japan's.

I guess we make a heck of a lot of hamburgers. We can't trust what they're telling us. Our jobs, like Rummy's will last forever. Right?

[Drum]

2. Happy Holidays, Underclass!

Oh wait...shit, I'm laid off too. :(

[Union Thug]

4. I may be joining you soon! Happy New Year!!!

Oh, and fuck productivity. Yeah, I've got a bad attitude.

[recoveringrepublican]

6. Will be loosing my job in March. nt

[Thor_MN]

3. Enron style accounting.

By the time they are done, they will have used all of 2009's income to cover the shortfalls of the * administration.

[Historic NY]

5. Interesting when this time of the year business should be hiring..

The economy is not doing as expected then again Wall St. is being propped up by the government and all the Iraq spending. At this time of the year there should be hires not layoffs. I've been saying Wall St. is nothing but a house of cards and its going to fall soon. The average Joe isn't dumping his money there any more mostly because he does not have any cash to spare. The biggest stock buyer and manipulator is the US Government and its Was Profiteers.