For the fourth quarter of 2008, the news is not so pleasant regarding productivity and costs in the economical sectors. It seems that the financial crisis involving cut jobs, made economy sensitive and vulnerable.
The statistics for this period made by the US Bureau of Labor indicates that productivity cut down at a 0.4 percent, while costs increased at 5.7 percent more than the prior predictions. The problems will continue to appear as long as companies will cut jobs in order to reduce costs. In this way, the labor markets will confront with more problems because consumer will limit its further spending magnifying the risk this recession may be even worst.
This productivity decreasing firstly surprised the economists who were expecting an increase with 1.5 percents and not a 0.4 percent decrease. As a consequence, a revision for the annual rate is required considering that the estimated dates indicate rises of 3.2 percents. A comparison chart for all sectors is available on the official site of Bureau of Labor, starting with 2004 until 2008 and the differences are significant. Unfortunately at this moment no one can certainly say how and when this recession will end.
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