The Labor Department has reported that productivity rose to an annual rate of 5.7 percent and initial jobless claims fell last week to the lowest level in six months. Some experts are predicting that this recovery in profits will soon lead to a greater pick-up in hiring. However, other experts feel that the jobless recovery of the economy will continue as companies try to maximize productivity without expanding their workforces.
See "Productivity leap hints at hiring", Tribune news services, Chicago Tribune, August 7, 2003