Productivity Increases 6.4%

2:58 pm EST August 11th, 2009 | News | 5 Comments

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U.S. companies slashed their workers’ hours in the second quarter, boosting the productivity of the workplace to an annualized rate of 6.4%, the Labor Department reported Tuesday.

It was the fastest increase in productivity in the nonfarm business sector in nearly six years. Economists surveyed by MarketWatch had been looking for a gain of 5.4%.

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5 Responses to “Productivity Increases 6.4%”

  1. SaveFarris says:
    August 11, 2009 at 6:42 pm

    Slashing hours is good for the American worker?!? We’ve turned another corner!

  2. Gabriel McKee says:
    August 11, 2009 at 8:32 pm

    umm…did you miss the part about slashed hours? that’s you know..not a good thing. that means people are working less, and thus earning less money there oliver…

  3. Quaker in a Basement says:
    August 11, 2009 at 8:43 pm

    It’s good news, but only in a roundabout way.

    Productivity is up because employers are cutting jobs or hours, but expecting employees to get the same amount of work done. There’s a limit to how far this can go–a fixed group of people can’t take on infinitely more work.

    Sharp rises in productivity lead an increase in hours and jobs.

  4. canadian bacon says:
    August 11, 2009 at 9:51 pm

    Historically has meant that a recession has come to an end. That’s what people who actually study things like history and the economy believe. Time to rebuild.

  5. Duros62 says:
    August 12, 2009 at 2:08 pm

    People who have jobs are dancing faster so they don’t get laid off.