Gains in production*
Ten percent unemployment**
Lot’s o’ fun, ain’t it?***
* According to The Wall Street Journal, The US enjoyed the largest 6-month productivity growth rate since 1961.
** The Bureau of Labor Statistics reports unemployment for October 2009 at 10.2%.
*** AP reports that productivity gains may be bad for job seekers, while economist and Nobel Laureate Gary Becker blogs that productivity and innovation will likely lead us out of the recession. But the AP also reports, “Fears are mounting about losing a job, not having enough money to pay the bills and evaporating retirement accounts…” (from an AP article on MSNBC.com).
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