Is this good news or bad news? Yahoo story here.
This is probably a perfect example of how productivity increases can outpace general economic growth and result in more people being thrown out of their jobs, even though corporate results can be improving.
The ONLY way to manage against this trend at this point is through fiscal policy that leads to broad increases in incomes or direct hiring of the unemployed.
And instead we have the former Fed Chairman advocating for tax increases? Our leadership is indeed clueless.