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Politics : Idea Of The Day -- Ignore unavailable to you. Want to Upgrade?

To: IQBAL LATIF who wrote (42539)	5/7/2002 9:49:30 AM
From: IQBAL LATIF	Read Replies (1) \| Respond to of 50167

Although market are serving an excruciating pain ggg but this is one good release;; The productivity of the average American worker rose at it fastest pace in nearly two decades in the first quarter as US companies continued to cut costs and the economy continued to produce more with less. Supplying the latest evidence that the nation's "productivity miracle" remains intact, the US labour department on Tuesday said its measure of worker productivity outside the agricultural sector - defined as output per work-hour - rose 8.6 per cent, the biggest gain since the second quarter of 1983. The increase follows a revised 5.5 per cent gain in the fourth quarter of last year. All figures are seasonally adjusted annual rates. The report supplies more fodder for those who think the foundation of the US economy's performance during the late 1990s remains largely untouched by the country's current travails - a critical assumption underlying US equity valuations, the value of the dollar and the Fed's contention that inflation will remain subdued. Economists think higher productivity blunts the effect of rising costs on prices. The first quarter's productivity surge reduced labour costs per unit of output by 5.4 per cent, after sliding 3.1 per cent in the fourth quarter. FT report;;;