As expected Q2 US worker productivity slowed from its initial -0.5% to a final -0.6%. This is the 3rd quarterly decline – the first instance since 1979…
And the last 3 quarters are the biggest plunge in productvity since 1993 (thanks to a doubling of unit labor costs from expectations of +2.1% to +4.3%).
Any way you look at it – this is not good – no matter how many times the mainstream tries to explain why “we just don’t understand the new economy.”
via http://ift.tt/2bV36TL Tyler Durden