>The reported numbers are quite remarkable. To be
>clear, I don't assume statiticians are fudging the
>numbers but this super-productivity seems
>counter-intuitive.
It's not counter-intuitive - there's no doubt that production is rising much faster than employment. But the numbers are outlandishly high - so high that they're hard to believe. Almost 16% gain in durable manufacturing? Infuckingcredible, really. Profits are up, but not *that* much. Where are all these wonderful gains going? I think they're underestimating labor inputs (i.e., unpaid work).
Doug