Factory orders jump 11% in 04 and worker productivity up 4.1%

[Engineer]

GROWTH IN U.S. PRODUCTIVITY, FACTORY ORDERS
SLOWS. Worker productivity jumped 4.1% last year but
slowed to 0.8% in the final quarter, according to the U.S.
Dept. of Labor.
Separately, factory orders leaped by a record 11% in
2004 but slowed to only 0.3% growth in December,
according to the U.S. Dept. of Commerce.
Last year?s productivity improvement tops a threeyear
run in which efficiency?measured by output per
hour worked?improved at its fastest pace since the end
of World War II. The productivity of the nation?s workers
rose by 4.4% in 2002 and again in 2003.
The jump in factory orders last year topped the previous
one-year record of 8% growth set 20 years ago,
according to the Commerce Dept.

Something to share. US workers are cranking it out. Might not be getting much bigger pay, but, nonetheless, cranking it out.

 

[dmcowen674]

Originally posted by: Engineer

GROWTH IN U.S. PRODUCTIVITY, FACTORY ORDERS
SLOWS. Worker productivity jumped 4.1% last year but
slowed to 0.8% in the final quarter, according to the U.S.
Dept. of Labor.
Separately, factory orders leaped by a record 11% in
2004 but slowed to only 0.3% growth in December,
according to the U.S. Dept. of Commerce.
Last year?s productivity improvement tops a threeyear
run in which efficiency?measured by output per
hour worked?improved at its fastest pace since the end
of World War II. The productivity of the nation?s workers
rose by 4.4% in 2002 and again in 2003.
The jump in factory orders last year topped the previous
one-year record of 8% growth set 20 years ago,
according to the Commerce Dept.

Something to share. US workers are cranking it out. Might not be getting much bigger pay, but, nonetheless, cranking it out.

Big question is, What are they ranking out with so much being imported???????

 

[conjur]

Yeah, average pay rose about $0.03 in the latest report. The export of cars is the only thing that kept the trade deficit from being utterly horrendous.

GDP growth has slowed to 3.1% (I think that's what I saw) and the new non-farm jobs were 146,000. The jobless rate fell to 5.2% due to a cut in the labor force (people have stopped looking for work.)

 

[Genx87]

They are estimating GDP growth for the year of 2004 at 4.4%

 

[KMurphy]

The US still makes a lot of industrial products. I work mainly with power distribution equipment; most of this equipment is still made here.
I opened a new medium voltage motor starter yesterday and everything inside was made in the US (except for the motor management relay made in Canada). Even the 1000HP motor and cable was made in the US. Mechanical equipment all over our plant is made in the US too.

It's mainly toys and consumer electronics made overseas; generaly speaking from my perspective in a large petrochemical facility.

 

[charrison]

Originally posted by: conjur
Yeah, average pay rose about $0.03 in the latest report. The export of cars is the only thing that kept the trade deficit from being utterly horrendous.

GDP growth has slowed to 3.1% (I think that's what I saw) and the new non-farm jobs were 146,000. The jobless rate fell to 5.2% due to a cut in the labor force (people have stopped looking for work.)

Due to mistake in made by the Canada GDP is expected to be revised upwards about .5% for the last qtr.

 

[spidey07]

The op-ed pieces I've been reading only confirm what we've already know.

we've pushed productivity past the limits and companies must hire. Good thing I guess. Most professionals I know are cooked.