Productivity is Bad: The Economy Follows

Written by Steven Hansen Pundits seem to comment on elements outside their comfort zone (areas of real expertise). Everyone is guilty from time-to-time. I know my comfort zones, and one is in labor and labor dynamics which formerly was the major part of my last life. My least read analysis are ones on productivity – …

Productivity 3Q2012 (Final): Productivity Increase Improved to 2.9%

Written by Steven Hansen [Note: This post is a markup of the preliminary data post – added statements underlined] A simple summary of this release is that the rate of productivity growth has been gently growing year-over-year , whilst the annual rate of growth of labor costs marginally increased is literally unchanged (even though the …

Productivity 3Q2012 (Preliminary): Productivity Increased at 1.9%

Written by Steven Hansen A simple summary of this release is that the rate of productivity growth has been gently growing year-over-year , whilst the rate of growth of labor costs marginally increased (even though the quarter-over-quarter data contracted slightly). Overall, the increase of unit labor costs remain moderate since the Great Recession. One almost …

Productivity 2Q2012 (Final): Improvement over Preliminary Release

Written by Steven Hansen [Note: This post is a markup of the preliminary data post – added statements underlined] One almost needs to begin with the caveats at the end of this post, as productivity is in the eye of the beholder. My view of productivity is one of an industrial engineer, while the Bureau …

Advancing Towards A World Without Jobs

Written by Steven Hansen This has been robot week, seemingly precipitated by a New York Times article Skilled Work, Without the Worker. Rapid improvement in vision and touch technologies is putting a wide array of manual jobs within the abilities of robots.  ….in many applications, robots are already more cost-effective than humans.