If Workers Are Getting Laid Off, Why Is Productivity Going Down?

from the not-a-good-sign dept

With all these layoffs, as well as improvements in IT shouldn't worker productivity be going up? Well, that's apparently not happening. Turns out that along with layoffs, companies are also shutting down production. In fact, they're doing it at a faster rate than layoffs. The economist interviewed for the article doesn't think it's a big deal, though, just suggesting that the "new economy" is more cyclical than people originally thought.