> BLS DAILY REPORT, TUESDAY, MARCH 10, 1998
> The economy is generating millions of new jobs every year, but most
> Americans' standard of living is stagnant, says Louis Uchitelle (New
> York Times, March 8, page 1, section 3). What's wrong? With new
> competitors all around and customers growing more demanding, companies
> are spending furiously just to hang onto market share. And that means
> the nation's productivity -- the source of new wealth -- is growing very
> slowly ....The effect is a frantically busy economy - call it the
> Treadmill Economy - that has been creating more than 300,000 new jobs a
> month. It is an economy that adds workers rather than operate more
> efficiently. And while that keeps unemployment low, it is generally
> productivity that makes possible healthy raises and higher living
> standards ....As a part of the article, the Times carries a side-bar
> story titled "A simple equation with complicated results" that
> describes productivity as measured by the Labor Department and includes
> a chart with productivity data 1940 to the present ....
This article seemed to be a blatant ripoff of Madrick's article, which we have
been discussing.
--
Michael Perelman
Economics Department
California State University
Chico, CA 95929
Tel. 916-898-5321
E-Mail [EMAIL PROTECTED]
