From Reuters:
Non-farm productivity fell for the first time in 1-1/2 years during the second quarter and labor costs barely edged up, according to a Labor Department report on Tuesday that underlined a slowing pace of economic recovery.
Productivity declined by an annual rate of 0.9 percent after rising at a revised 3.9 percent rate in the first quarter, the first time since the fourth quarter of 2008 that output per worker fell…
Just another indicator that the recovery has faltered – the only question now for most people is, will we slip back in to full blown recession? For people like me, the answer to that is, “no”. That is because people like me figure we never really left the recession to begin with.
Meanwhile, for people like Nancy Pelosi, Harry Reid and Barack Obama, the answer is, “cripes! Spend another trillion! Bound to be a different result, eventually, if we just keep doing the same thing!”.
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