[grumpygresh]

“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.

[GonzoGOP]

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.