The Wall Street Journal blares at us in a headline that “U.S. Productivity Increased at Fastest Pace Since 2013.” They say that like it was a good thing. Well, consider the source; they think it is a good thing.
2013 was barely more than a year and a half ago, so the hyperbole is a little bit misplaced. “Biggest whatever since 1905” might be pretty exciting, but the biggest gain in nineteen months is hardly earth shattering when the economy is staggering out of a recession.
It means that fewer worker hours are required to do a fixed amount of work, so payroll is reduced and that is good for employers and bad for the working class. The WSJ, of course, does not care what is best for the working class, it gets all excited about what is good for the business class. The stock market goes into a nose dive whenever the news is even slightly favorable for the working class.
This country is so fucked up.