Jobless Claims Dip, Productivity Growth Slows

Source: ABC News

WASHINGTON (Reuters) - U.S. productivity grew solidly in the first quarter, although not as fast as in previous periods, and data also showed the number of U.S. workers filing claims for jobless aid fell slightly last week.

The Labor Department on Thursday said non-farm productivity rose at a 3.6 percent annual rate, the smallest advance in a year, after expanding at a brisk 6.3 percent pace in the fourth quarter.

Analysts had expected productivity, which measures the hourly output per worker, to rise at a 2.5 percent rate in the January-March period. The bigger-than-expected rise reflects the successful efforts by businesses to hold the line on hiring but the sharp slowdown indicates they won't be able to do so forever.

"The productivity data is not as strong as the prior three quarters, but is strong by any other measure, and mainly reflects a slow shift toward hiring as firms lack the capacity to extract more output out of existing workers," said Alan Ruskin, chief currency strategist at RBS Global Banking and Markets in Stamford, Connecticut.



Read more: http://abcnews.go.com/Business/wireStory?id=10571758

More output?

Sounds eerie. So we have to wait until those workers from which output is extracted burn and drop in order to create new openings? ;)

I imagine they can find a way to squeeze even more out of workers since they are expendable commodities, these days.

Eerie for sure! Stuff like this makes me want to re-read "The Jungle"......

crushed and then discarded.

The investor class lives and breathes this shit. Their wealth depends on it.

Funny how the people who are currently doing the jobs of several discarded co workers aren't being given a break. The hiring will be for a few more units to add to the overworked units in place. Those currently employed to do the job of several workers will continue to do so.

:puke: