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First-quarter U.S. productivity rises 1.6%
Marketwatch ^
| 5.5.11
| Jeffry Bartash
Posted on 05/05/2011 6:34:34 AM PDT by Free Vulcan
WASHINGTON (MarketWatch) The productivity of U.S. businesses rose at a slower rate in the first quarter while hourly wages of workers adjusted for inflation fell by the largest amount in almost three years, according to government data.
First-quarter productivity rose at a 1.6% annual rate, the Labor Department said Thursday. Productivity in the fourth quarter was also revised up to 2.9% from 2.6%.
Economists surveyed by MarketWatch had expected productivity to increase by 1.5% in the first quarter...
...Although compensation per hour rose 2.6% at an annualized rate, hourly wages adjusted for inflation fell by 2.5%. Thats the biggest decline since the third quarter of 2008. Whatever increases in pay workers have been receiving appear to have been eaten up by the rising cost of weekly staples such as gasoline and food...
(Excerpt) Read more at marketwatch.com ...
TOPICS: Breaking News; Business/Economy; News/Current Events
KEYWORDS: economy; productivity
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As I suspected, the American worker is starting to tread water as inflation takes it's toll. The numbers are worse because the govt's 'adjustment factors' no doubt don't reflect your and my budget, which has a higher percentage of our income going to basics.
To: Free Vulcan
In other words Ubama Sucks.
2
posted on
05/05/2011 6:36:27 AM PDT
by
screaminsunshine
(Shut up and eat your Beans!)
To: Free Vulcan
unexpected (everyone drink)
3
posted on
05/05/2011 6:36:44 AM PDT
by
Perdogg
(0bama got 0sama?? Really, was 0sama on the golf course?)
To: Free Vulcan
...Although compensation per hour rose 2.6% at an annualized rate, hourly wages adjusted for inflation fell by 2.5%. Thats the biggest decline since the third quarter of 2008. Whatever increases in pay workers have been receiving appear to have been eaten up by the rising cost of weekly staples such as gasoline and food... This is exactly what is happening to my family. BUT OBAMI GOT BIN LADEN ALL BY HIMSELF!
4
posted on
05/05/2011 6:40:41 AM PDT
by
frogjerk
(I believe in unicorns, fairies and pro-life Democrats.)
To: Free Vulcan
According to the Bureau of Labor Statistics the inflation rate for the first quarter was 2.7%. If productivity only grew at 1.6% then the nation is 1.1% worse off than it was at the beginning of the year. Obama is trying to use inflation to mask the decline in real GNP. That will work for a while, but every time they have to fill their gas tank or buy groceries more and more people are catching on to his trick.
5
posted on
05/05/2011 6:41:04 AM PDT
by
GonzoGOP
(There are millions of paranoid people in the world and they are all out to get me.)
To: Free Vulcan
“Higher productivity is widely regarded as the key to a rising standard of living because it usually leads to higher wages for workers and bigger profits for companies.”
OK. But these swings usually mean that existing employees are taking on more work to compensate for layoffs. The employees that remain are always more productive than the ones that are fires or laid off.
6
posted on
05/05/2011 6:42:39 AM PDT
by
grumpygresh
(Democrats delenda est)
To: frogjerk
7
posted on
05/05/2011 6:45:07 AM PDT
by
ecomcon
To: Free Vulcan
8
posted on
05/05/2011 6:47:34 AM PDT
by
OB1kNOb
(The stench of dependency is a sickening smell. Strive to become an asset, not a liability.)
To: Free Vulcan; P-Marlowe; wmfights; Jim Robinson
How Orwellian can you get?
Going from 2.9% 4th quarter to 1.6% 1st quarter is called a rise in a headline.
The economy is slowing down, gentleman. Read the article.
This headline is a carefully crafted lie.
9
posted on
05/05/2011 6:51:09 AM PDT
by
xzins
(Retired Army Chaplain & proud of it: Truly Supporting the Troops means praying for their Victory!)
To: Free Vulcan
“Although compensation per hour rose 2.6% at an annualized rate, hourly wages adjusted for inflation fell by 2.5%.”
This means inflation rose at 5.1%.
Zimbabwe here we come.
10
posted on
05/05/2011 6:52:48 AM PDT
by
tobyhill
To: Free Vulcan
Weak dollar, lack of domestic oil production equals higher and higher energy prices leading to higher transportation costs leading to higher costs in everything else.
This inflation screws fixed income and conservative savings with wages never keeping up. Now I understand Obama playing 3 card monte with the Osama picture.
Question what's the next wag-the-dog adventure he's going to be coming with to keep the subject off our flushing economy?
11
posted on
05/05/2011 6:55:35 AM PDT
by
AU72
To: Perdogg
unexpected (everyone drink)My doctor ordered me to swear off drinking games. I nearly killed myself in 2008 when I drank every time John McCain said "my friends".
12
posted on
05/05/2011 6:56:21 AM PDT
by
Night Hides Not
(If Dick Cheney = Darth Vader, then Joe Biden = Dark Helmet)
To: grumpygresh
OK. But these swings usually mean that existing employees are taking on more work to compensate for layoffs.
Unless there is a technological revolution that it ture. For example in the early 90s there was a big boost in productivity of office workers when the Personal Computer went from something that you had one of in the office to something that was on every ones desk. Likewise manufacturing go a big boost when the first robot production lines opened up in the 1980s. There hasn't been any technology driven changes in the last decade. In fact a lot of the "Green" stuff has driven us in the other direction. Using less efficient methods of production in order to "Save the World".
What we are seeing today is just fewer people working longer hours to make up for people that aren't there any more. And since there are no jobs out there you can't quit or demand a raise.
13
posted on
05/05/2011 6:56:49 AM PDT
by
GonzoGOP
(There are millions of paranoid people in the world and they are all out to get me.)
To: Free Vulcan
My husband got no raises for two years. His third year raise, plus the Payroll Tax holiday, just about covers the increase in our health insurance.
Meanwhile, gas prices have doubled, our water bills are set to do the same, and school tuition is going up 10% in the fall. The only reason our grocery bill hasn’t doubled is that I’m a SAHM and can devote two hours+ a day to couponing, price matching, and scouring the stores for reduced-for-quick-sale meat. I hate to think what people who don’t have that time are spending, judging by the fact that I’m regularly saving 75$ or more a week beyond the circular sales.
We are going to have 5 kids in a three bedroom house come July, and I’m despairing of ever selling at this point having bought at the local market high, a month before 9/11.
Right now our only hope is for my husband’s company to decide they want to consolidate offices and ship him somewhere else, as (thank God) they still offer decent relocation packages. They went overboard on the downsizing in 2009 and are seriously undermanned.
14
posted on
05/05/2011 6:58:28 AM PDT
by
Eepsy
To: Free Vulcan
Bull$hit! No way in he$$ is that number real.
To: Free Vulcan
...Although compensation per hour rose 2.6% at an annualized rate, hourly wages adjusted for inflation fell by 2.5%. Thats the biggest decline since the third quarter of 2008.I have an idea, why doesn't government just print more money and create inflation while still spending at record levels so they can proclaim "no new taxes" during the election cycle? /s
16
posted on
05/05/2011 7:11:10 AM PDT
by
EGPWS
(Trust in God, question everyone else)
To: Free Vulcan
This is unbelievable how this is being spun as good news. There was a 1.3% drop in production in one quarter.
This is a big drop.
17
posted on
05/05/2011 7:11:29 AM PDT
by
tobyhill
To: Free Vulcan
Jimmi Carteresque, with steroids. The W0N has and his libtards have looted the nation while the GOP is sitting on their collective thumbs.
Does all outrage have to be media coordinated and funded by the DNC like in 2008? Or do we just have to wait for all the working people to be out of work and starving before they can get outraged?
18
posted on
05/05/2011 7:22:53 AM PDT
by
Steamburg
(The contents of your wallet is the only language Politicians understand.)
To: xzins; Free Vulcan; P-Marlowe; Jim Robinson
The economy is slowing down, gentleman. Read the article. Thanks for the ping.
What we are seeing is the total failure of Keynesian economic theory. IIRC, President Reagan was confronted with a deeper recession and through his policies (supply side economics) we were growing at 7-8% at this point. Under obama we can expect an annualized growth of maybe 2.5%, which will not be enough to start generating real job growth.
Also, because of the incompetence of these "academics" running the govt in addition to low growth we have inflation. IOW, the worst of all recoveries stagflation.
19
posted on
05/05/2011 7:48:51 AM PDT
by
wmfights
(If you want change support SenateConservatives.com)
To: Free Vulcan
"Hey, I got bin Laden! Isn't that enough for you people??"
20
posted on
05/05/2011 7:53:11 AM PDT
by
COBOL2Java
(Obama is the least qualified guy in whatever room he walks into.)
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