Economy

Productivity Still Too Hot

Although productivity is not rising at the rate it did in the first quarter, the increase is still too “hot” to help employment.  According to the BLS:

“Nonfarm business sector labor productivity increased at a 3.6% annual
rate during the first quarter of 2010, the U.S. Bureau of Labor Statistics
reported, with output rising 4.4% and hours worked rising
.8%.”

It was hoped that the rate would level out, which would probably indicate that employers would have to increase hiring to improve their ability to handle a rising demand goods and services. As it is, the workforce appears to be “working harder” to remain employed. Looking for new jobs is nearly impossible as the ratio of job seekers to open jobs is 5.5 to 1.

Douglas A. McIntyre

Sponsor: 26 Cheap Stocks to Sell – Cheap stocks have been on a tear recently, but nine out of ten stocks are circling the drain!

Take This Retirement Quiz To Get Matched With An Advisor Now (Sponsored)

Are you ready for retirement? Planning for retirement can be overwhelming, that’s why it could be a good idea to speak to a fiduciary financial advisor about your goals today.

Start by taking this retirement quiz right here from SmartAsset that will match you with up to 3 financial advisors that serve your area and beyond in 5 minutes. Smart Asset is now matching over 50,000 people a month.

Click here now to get started.

Thank you for reading! Have some feedback for us?
Contact the 24/7 Wall St. editorial team.