By John W. Schoen
Recent government data on worker productivity indicates that most Americans are likely to be working harder and putting in longer hours for the same pay. The Labor Department has stated that the American workforce produced 6.4% more of the goods in the second quarter of this year compared to one year ago, yet the unit labor costs (amount employers are paid) fell by 5.8%.
Many economists believe that the current recession is soon coming to a close due to the slowing of job cuts, increased productivity from fewer workers and the housing market showing signs of a bottom thus resulting in lower wages paid and higher savings for businesses. However other analysts disagree saying that the lower wages and higher savings leaves less money for consumers to buy the goods and services that create demand which makes for companies continuing to squeeze more out of fewer workers.
Take a look at the following article to read more on Working Harder for Less Pay!
No comments:
Post a Comment