American Worker Productivity Worsens (Again) - Biggest Decline Since 1993

Tyler Durden's picture

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."

Still it's probably nothing...

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Took Red Pill's picture

Everyone's on their phones instead of working.

zuuma's picture

How do you measure the productivity of waiters & bartenders?

The primary type jobs created in the odumbo administration.

VinceFostersGhost's picture

 

 

Productivity isn't really a factor when you can only work 29.5 hr/wk.......by freakin law no less.

neidermeyer's picture

Obamacare ,, you gotta love it...

Winston Churchill's picture

Had to get rid of  three peeps in the last 12 months for exactly that.

They were like jonesing junkies when told to leave them in their cars,kept sneaking out for a fix every 15 minutes.

Sad.

thesonandheir's picture

Wonder why FB shares are so high?

Spungo's picture

Try hiring less intelligent people. The more intelligent someone is, the more frustrating it is when their brain is not stimulated. A retarded person can work in a box factory every day for 20 years and still come in with a smile. A person with an IQ of 140 will hate the job within 3 days and desperately try to keep themselves entertained. 

 

Winston Churchill's picture

Common sense is missing from both groups.In fact its getting rarer in any segment.

Spungo's picture

It's not about common sense. It's all about mental stimulation. For someone with an IQ of 70, cleaning a table properly is mentally stimulating. I've worked with literal retards before, and they seem really happy. They take great pride in seemingly small tasks. 

odatruf's picture

100% true. The woman next to me takes her phone out, types for 30 seconds, and then puts it away at least 15 times per hour. If anything, that is on the low side.

brada1013567's picture

Steve Liesman believes it because Google is not represented, I believe it is because Google, Facebook, Amazon... are productivity killers.

whatamaroon's picture

I guess it's hard to measure the productivity gains from all the new paper pushers obama requires to comply with new useless regulations. Maybe the measurment method needs to be regiggered.

Stuck on Zero's picture

If you lie about the number of people working then it makes productivity look bad.

baldknobber's picture

Ding Ding Ding We have a winner. Anybody still working is doing much more than they were 10 years ago. My business is just now getting back to pre-08 levels but we are doing it with 20% less workers, and sorry to say but at just about the same wages

Laddie's picture

Well I think DEMOGRAPHIC CHANGE may be overlooked in the evaluation. It is unsurprising, to me, that between third world workforce and capitalist elites destroying companies and corporations, that "American" (sic) worker productivity has worsened as has the educational attainment levels.

"To compel a man to subsidize with his taxes the propagation of ideas which he disbelieves and abhors is sinful and tyrannical." - Thomas Jefferson

Today, we live in a rapidly disintegrating society where memories of a better yesterday are but a bitter reminder of the horrors of tomorrow.
There is no United States of America anymore, only a country people vaguely remember as once being a nice place to live.

spanish inquisition's picture

Shouldn't we just get rid of that metric and instead measure robot productivity.

Bemused Observer's picture

If productivity declines any more, we'll have folks showing up to disassemble and undo stuff that was done the day before.

Umh's picture

Sounds like some IT people I know.

brada1013567's picture

I didn't see the number I was too busy playing Angry Birds.

Baby Eating Dingo22's picture

Include texting while driving and productivity spikes, until they slam into a pole

odatruf's picture

But think of all the work opportunities that creates: EMTs, to pole repair people, jaws of life manufacturers, new auto manufactures, insurance adjusters, etc. Fucking GPD +2 points, easy.

Bemused Observer's picture

Actually, the whole 'productivity' statistic is bullshit, and means nothing. It's all part of the guilt-trip TPTB are laying on US for the fact that their economy sucks and can't be revived, no matter what they do.

So, it's OUR fault, because we aren't 'productive' enough. Yeah, well fuck them. I have some issues with THEIR productivity as well. I guess what goes around comes around.

They will NEVER get any of my productivity again. From now on, the spigot goes ONE way...TOWARDS ME. The second half of my life will be spent recovering everything (with interest, AND adjusted for inflation) that the fucks TOOK from me during the first half.

papaswamp's picture

Wow labor costs really spiked. That going to push the Feds hand?

Seasmoke's picture

I blame ZeroHedge.

Shizzmoney's picture

It's millennials' fault 

Mr.BlingBling's picture

Sí, es culpa de los Millennials'

S Spade's picture

with all the rules, regulations, lawyers, taxes, and our enormous nanny state government fostering the welfare state and illegals, no one has confidence business will improve / grow.  We're in decline, as demand/business falls off, productivity declines, then come the layoffs and/or closures, productivity briefly improves and the cycle repeats. 

 

iampreparedru's picture

Its not the worker, we are working harder than ever filling out more government forms so they can hire more bureaucrats to move it to more desks and screw it up. My non productive work has gone through the roof, fortunately I am old enough to bail soon. 

moonmac's picture

You can hardly blame slow motion workers making $8.50/hr as the Fed destroys them with higher and higher prices on everything needed to survive. Can’t fire them because they’ll only be replaced with someone even slower.

SilvaDolla's picture

And why shouldn't it?! Nobdy in their right mind is going to work harder for less money as everything else gets more expensive in a country where our "choice" for potus is trying to decide whether to burn or drown....And just forget about ever feeling like you can get ahead again.  

We the People...are fucking sick of it.

JOIN, OR DIE!