Productivity slows to a standstill

[BR_Parkway]

WASHINGTON - The productivity of American workers slowed to a standstill in the summer while wage pressures were rising at the fastest clip in more than two decades, a combination likely to raise inflation concerns at the
Federal Reserve.

The Labor Department reported Thursday that productivity, the amount of output per hour of work, showed no change in the July-September quarter while labor costs rose by 3.8 percent. For the past year, labor costs are up by 5.3 percent, the fastest increase since 1982.

In other economic news, the number of newly laid off workers filing claims for unemployment benefits unexpectedly shot up last week to the highest level in more than three months. A total of 327,000 fired employees filed benefit claims, up by 18,000 from the previous week.

The total number of jobless claims, which are adjusted for normal seasonal variations, was the highest since early July and raised concerns about whether the slowing economy is finally beginning to push companies to lay off workers.

http://news.yahoo.com/s/ap/20061102/ap_on_bi_go_ec_fi/economy

Much more about Our Glorious Leader's Wonderful economy at the link!

[rwork]

1. I wonder

If they will show the jobs report for Oct., on Friday?

[4bucksagallon]

2. I don't know about anyone else but we are working more and more.

Mandatory 10 hour days and 5 on saturday. It seems the corporations are trying to bring back some form of sweatshop mentality to the US. No new hires, they use manpower and temps instead of adding workers. This seems to be the trend that started some time ago.

[Demeter]

3. Soviet Proverb: They Pretend To Pay Us, and We Pretend To Work

updated to modern American business practices.

[1932]

4. bled dry already.