US nonfarm productivity dived 0.9% in Q2 vs 3.9% in Q1.And then there's this: Small business optimism sags in July.
The market was looking for growth of 0.1%.
The culprit: higher labor prices! Are we seeing wage inflation with nearly 10% unemployment?
It marks the first time that productivity went negative since q4 2008.
Tuesday, August 10, 2010
More government employees, less in the private sector would be my guess.
Posted by traderrob at 6:12 AM