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Old 05-02-2019, 09:22 AM
 
1,390 posts, read 311,542 times
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U.S. Worker Productivity Advances at Best Rate Since 2010
Meanwhile, pay increases were mostly offset by better efficiency, a factor helping keep inflation in check


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U.S. workers’ efficiency improved during the past year at the best pace in nearly a decade, laying groundwork for stronger wage growth and continued economic expansion.
The productivity of nonfarm workers increased at a 3.6% seasonally adjusted annual rate in the first quarter. Year-over-year, productivity rose 2.4% from a year earlier -- the best gain year-over-year since the third quarter of 2010.
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Old 05-02-2019, 09:23 AM
 
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robots
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Old 05-02-2019, 10:02 AM
 
Location: Aurora Denveralis
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"Worker productivity" is a pretty slippery, cooked figure. Can't put much emphasis on it except in a larger context.
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Old 05-02-2019, 04:46 PM
 
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The extremely tight labor market is driving up wages, and currently it is being financed largely by increases in worker productivity. That means we aren't seeing increasing wages having a large negative impact on corporate profitability.

This is a good thing. Its sort of a Goldilocks Economy.
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Old Yesterday, 11:39 AM
 
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Originally Posted by Quietude View Post
"Worker productivity" is a pretty slippery, cooked figure. Can't put much emphasis on it except in a larger context.
Negative. The Worker Productivity Equation is very simple, related statistical adjustments are old hat at this point and germane data gathering parameters are robust enough that over time the figures are of actionable quality. It's a crucial macroeconomic/money policy metric.
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Old Yesterday, 11:52 AM
 
Location: Aurora Denveralis
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Originally Posted by EDS_ View Post
Negative. The Worker Productivity Equation is very simple, related statistical adjustments are old hat at this point and germane data gathering parameters are robust enough that over time the figures are of actionable quality. It's a crucial macroeconomic/money policy metric.
You didn't really counter anything I said, just framed it in standard econbabble. Thanks.
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Old Yesterday, 12:00 PM
 
Location: Virginia
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Wouldn't it be nice if increased productivity led to decreased work hours and more leisure time instead of fueling some fantasy notion that if you aren't growing, you're failing.
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Old Yesterday, 12:05 PM
 
Location: Aurora Denveralis
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Originally Posted by rabaman View Post
Wouldn't it be nice if increased productivity led to decreased work hours and more leisure time instead of fueling some fantasy notion that if you aren't growing, you're failing.
Like all major economic indicators, it's a tool of business, not the workers. In economic discussion, actual people - workers, consumers, etc. - are just reference classes.

"Increased leisure time" is coming. Lots of it.
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Old Yesterday, 01:52 PM
 
Location: WA
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Usually increases in productivity simply comes from investments in technology and equipment. Could the reductions in the corporate tax rate be accelerating this?
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Old Yesterday, 02:51 PM
 
Location: Aurora Denveralis
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Originally Posted by cdelena View Post
Usually increases in productivity simply comes from investments in technology and equipment. Could the reductions in the corporate tax rate be accelerating this?
I haven't heard of any major companies actually investing this windfall or passing anything but token amounts to their workforce. It seems to all be going to stock buybacks and C-level compensation. So no, I doubt it has much to do with productivity.
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