U.S.: "Productivity" rises as people laid off

greenspun.com : LUSENET : Grassroots Information Coordination Center (GICC) : One Thread

Headline: Productivity Grew 2.1 Percent in Second Quarter [excerpt]

Source: ASSOCIATED PRESS, 5 Sept 2001

Via NY Times: http://www.nytimes.com/aponline/business/AP-Economy.html

WASHINGTON (AP) -- Worker productivity, a key measure of living standards, rose in the second quarter as businesses, coping with the yearlong economic slowdown, laid off workers and slashed hours... [remainder of article snipped]

OK, I’m not a smart economist, just a dumb reader of the newspaper. I must be missing something. I feel the steam coming out of my ears as I read this opening sentence. "...a key measure of living standards rose...as businesses...laid off workers and slashed hours..."

Uh, *whose* living standards are rising as layoffs increase??? Boss to worker: "Congratulations! Your living standard is about to rise! You're fired!"

-- Andre Weltman (aweltman@state.pa.us), September 05, 2001

Answers

Seems to be rather much of a contradiction in terms to me too.

-- Wellesley (wellesley@freeport.net), September 05, 2001.

The ultimate goal is for one person to do everything.

-- Sam (Wtrmkr52@aol.com), September 06, 2001.

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