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

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...