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Friday, March 04, 2005

More Great Productivity Numbers

From Reuters:
WASHINGTON (Reuters) - U.S. business productivity rose more quickly in the fourth quarter than first thought, notching an unexpectedly brisk 2.1 percent annual rate, while the growth in labor costs was cut to a mild 1.3 percent pace, a government report showed on Thursday.

Productivity is the single most important component of GDP growth. It reflects innovation and knowledge and is at least partially sustainable for the very long term. Continued increases in productivity mitigates most other economic ills.

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