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US Productivity Suffers First Consecutive Quarterly Plunge Since 1993
Well this cannot be good. US output per hour (for the non-farm businesses) - or non-Farm productivity - plunged 1.9% in Q1. This follows a 2.1% slump in Q4 2014 and is the first consecutive quarterly plunge since 1993. This was driven by a 0.2% decline in output as hours worked increased 1.7% with manufacturing productivity suffering a 1.1% drop in Q1 (driven by a 1.2% decline in output).
Must be geat news...
working more... making less.
Charts: bloomberg
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Everyone's playing with their new apple watch instead of working
Hey, I was on break!
US Productivity is very High
We have the heaviest people in world
We have a lot of useless eaters
We have entertainers that make more than an educated person
We have a "free shit crowd that is growing and rioting
First batch of Common Core grads have entered the workforce, what did you think was going to happen to productivity?
Yep.. Less units made per labor hour = Massive layoffs ahead
Followed by immense, epic, horrendous, huge deflationary implosion that's really bad too!
Told ya it's 1937 all over again
And they want $15/hour to flip burgers at McDonalds.
Bring on the automation. More jobs for engineers to design robots!
No no no..
Genetically engineered beef that flips itself!
Self-licking ice cream cones.
The FED creates money from nothing, so they may as well just deposit $5,000/month in our bank accounts.
Then, if you want free healthcare, you go out and do something useful - at a max of 29 hours/week.
Actually, you have it backwards. Hiring will increase in order to maintain output levels, and our old friend cost-push inflation is coming back after a 35-year nap.
Sooner or later the productivity gains from the PC (1981-1996) and Internet (1996-2015) eras would tail off. Now that the Internet is 20 years old, what's the next big innovation in business productivity? We're five years overdue. Smart phones don't count.
I am afraid innovation is being confined to defense projects. Unlike the past these will not be farmed out for general consumption in the business world.
Yeah and can you imagine the lawsuits resulting if you fire one of them. Their curriculum consisted of various civil rights courses, a trip to Selma, 5 or 6 "Victimization" classes, and legal rights as it relates to crimes they might commit, and why you don't have to follow rules set by "the man"
"What do you do for a living?" "Oh, I have ADD! I get a disability check, EBT card, subsidized housing, free medical care, free cell phone, free internet, free utilities, and a bunch of other free stuff..”
So what. All these old economic metrics don't matter in the post-digital, Apple Watch World.
Bull-ish-it.
The "markets" are no longer dependent upon external stimulants, or what we would call "the economy". It has become its own self sustaining entity. It really doesn't give a shit what the rest of us are doing.
My last pay check was $9500 working 12 hours a week online. My sisters friend has been averaging 15k for months now and she works about 20 hours a week. I can't believe how easy it was once I tried it out. This is what I do... www.jobs-review.com
My last pay check was $180 trillion working 12 minutes a week on my couch. My sisters friend has been averaging 4 blow jobs an hour for months now; she can keep it up for days on end. I can't believe how easy it was once I tried it. This is what I do...www.blowjobs-rinse-repeat.wow
But...stocks bro!!!!
Damn near a trillion dollars a month, I'm gonna say stocks should be up.
Stop the heroin drip and see what happens.
Hard to bust your ass when you are doing it for corrupt: government, corporations, and "healthcare".
FED creates money from nothing to give to Wall Street, but we're supposed to work to pay for it.
What is good for Wall Street is bad for Main Street, and vice-versa.
Ponziconomy!
So you are saying that leaches can kill?
I thought parasites were only supposed to be an annoyance.
Fed rate hike is not this June? It must be June 2021
I don't need to work since I have a SNAP card and lots of free money from Obama.
The US will have to export the idea and ability to pay for SNAP like goodies or import REAL poverty. We are all gonna be really mediocre or chasing the same cat up a tree for dinner.
Use the card while you can. Chuck Norris gonna take your snap card away!
Chuck is on Jade Helm watch, I don't care how much those pompous progressive republicans bitch about it.
I feel better just knowing he's there.
$100,000,000 homes don't add much to production But old Yellen's still producing
This turning out to be a real 'good news day'. New closing high for the S&P or the end of the bull market? It's a coin toss.
lamprey that fiat before the faith is gone.
bring back the illegals to do the work Americans can't do .......
They are picking fewer strawberries and cabbages per hour TOO.
TOO busy attending DREAM events with Hitlary and Oblamo.
Looks like it's all just transitory!
We'll make it up on volume later!
Via the global multi-year macro downturn slide, that finally went negative this year, you mean?
Those red scratches on the chart will buff out. Nooo problem!
My dads a TV repairman he's got a kickass set of tools....we can FIX it!
I'm sure these will be seasonally adjusted. After all, no one works as hard when it's actually cold outside.
You 're right, in the old days it never snowed or got cold
Send more robots.
I know my accountant worked more hours on my taxes even though I made less money this year,,,it should be easier right,,,wrong,,,with all the new regulations and laws he had to fill out many more forms..pushing paper..that is the new USA
I am looking forward to seeing how Hatzius explains this one away!
Obama has suceeding in the distruction of the best country on the planet and the Republicans in DC who lied to get elected have done nothing!
Republicans in DC who lied to get elected
Yeah, they sure as hell did.
Have no fear, there will be an MIC led recovery along directly.
If the head FED chair person are the ones who decide when the music finally stops and thier main objective once elected is to assure they will be able to command $250,000+ per speech post FED term....How much do they care about the spun, manipulated, fantacyland economic data anyway?
Time to get burger bot on the job! http://www.trunews.com/wp-content/uploads/2014/08/hamburger-robot.jpg
I produced a large turd for the local Durham County Sanitation engineers this morning. Enjoy!
Class of 93. Wow, gone nowhere since I graduated High School. Great progress!
Certainly appears to be enough bad news to wipe out all yesterday's Stawk drop and put it all back to new record highs.
Went to a drug store for a possible eye infection, turns out allergies here are just ebolaesque, the practitioner was almost not necessary. He used the PC to go through a checklist. The company software program told him how to diagnose. Take away shining a flashlight in my ear, I could have completed the exam and entered the info myself. Sure his dreams of being a doctor were slightly different.
Now that healthcare is free everyone is at the doctor's office, or it may be that having 1 try to do the work of 3 has finally hit the wall.
I picked up a package of bacon last week. It had about 16 slices of bacon in the package. It was over $7.00 for the package, before tax.
I understand now, it’s not that inflation is up (cuz .gov says it’s near zero) it’s just that production is down.
I bought the bacon at that Chinese import shop, Wal-Mart. Those damn Chinese pigs just won’t work anymore. They are always lazing around on the beach and taking the occasional dip in the Shanghai. They are killing production and it’s costing me more and more.
Since 1993?
And we alll know what happened after that, don't we?
Yeah, le déluge.....Dogs and cats, living together.......
Oh, the Humanity!