Worker productivity is up. But people are more productive because they are fearful of losing their job and have no option other than to take on the duties of their fired co-workers. Pretty much everyone I know who isn’t already unemployed faces this problem. They do more work than ever while accepting to wage freezes, pay cuts and furloughs.
Still, some economists were encouraged by the productivity report. They say that eventually, employers won’t be able to squeeze more from their staffs. They will then have to ramp up hiring – something that could happen next year, even though the jobless rate is expected to hit double digits.
The good news in all this? Companies will reach the limit of how much work they can physically pile on top of their employees sometime next year! Maybe!
Wednesday: American Massacre Comix