Great News!! The George W. Bush economy is BOOMING....!!
Read the positive news below and here.
"Productivity Expands at a Faster Pace"
"The productivity of American workers shot up at the fastest pace in two years during the July-September quarter, helping to ease fears that inflation pressures were threatening to get out of hand. The Labor Department reported Tuesday that productivity, the key component for rising living standards, rose at an annual rate of 4.7 percent during the summer, a big upward revision from the 4.1 percent initial estimate made a month ago.
The big jump in worker efficiency help to push labor costs down by 1 percent at an annual rate in third quarter, double the 0.5 percent drop in unit labor costs that had originally been reported. The stronger productivity and falling labor costs should help ease fears at the Federal Reserve that overall inflation was on the verge of worsening because of rising wage pressures.
Productivity is the key factor that determines whether living standards are improving. Gains in productivity allow companies to pay their workers higher salaries from their increased production without having to increase the price of the products they sell, which would fuel inflation....
The 4.7 percent rate of increase for productivity in the third quarter was sharply higher than the 2.1 percent increase for the April-June quarter. It was the best showing since a 9.6 percent surge in the third quarter of 2003.
In addition to the solid upward revision to GDP and productivity, the government on Friday reported that employment grew by a solid 215,000 in November...."