Workers' output remains strong
On Wednesday the U.S. Labor Department announced that despite the downturn in the economy, worker productivity continued to increase. This tends to confirm the view of Fed. Chairman Alan Greenspan and other new economy theorists that technological advancements have led the country into a new era of higher productivity. Increases in productivity are of prime interest to policy planners, employers, and labor alike, as they make it possible to increase wages without cutting into profits or raising prices.
See ROBERT MANOR, Chicago Tribune, September 5, 2001