1st Qtr 2016 Productivity decreased 1% yet unit labor costs increased 4.1%
Thanks Obama!
What Productivity???????
Maintain zero, or negative???
Want a fun stat?
Since I started paying attention this year, every single time that I am being contacted by a recruiter, the person is from India. Every single one.
“Setting the record straight is important to reassure workers that there’s no widespread abuse by American employers. “
They would never, ever abuse Americans buy replacing them with H1-Bs. Or illegal aliens.
Nope. That stuff never happens.
A tired load of crap that doesnt once address the most basic concept in economics: supply and demand. If you increase the supply of something such as labor and the demand doesn’t increase, the price will fall.
Thanks to importation of massive numbers of foreign laborers, the supply of labor has increased while the demand has remained fairly static. Hence the price has droppped. This article spends several paragraphs pointedly ignoring the elephant in the living room.
I think the author completely whiffed on one critical point.
Productivity increased 91% because of labor saving machines, because of huge advances in business and engineering software, and because of the Internet and cell phones.
The workers are NOT working 91% harder to get their jobs done!
Say WHAT???