…for those looking for bad economic news. Productivity is surging:
The Labor Department reported that productivity — the amount of output per hour of work — jumped at an annual rate of 4.9 percent in the July-September quarter. That was double the 2.2 percent rise in the second quarter and represented the fastest surge in worker efficiency since 2003.
At the same time, wage pressures eased with unit labor costs dropping at an annual rate of 0.2 percent, the best showing in more than a year.
I blame George Bush.