5:35AM PDST ANOTHER BULLSHIT REPORT ARRIVES

U.S. Q2 productivitiy revised higher, unit labor costs lower By Greg Robb Last update: 8:30 a.m. EDT Sept. 4, 2008 WASHINGTON (MarketWatch) -- The productivity of U.S. nonfarm businesses was revised higher in the second quarter than previously estimated, the Labor Department reported Thursday. Productivity, which is defined as output per hour worked, rose at a 4.3% annual rate in the quarter, revised from 2.2% in the earlier estimate a month ago. Unit labor costs -- a key inflation gauge - fell 0.5%, revised down from a gain of 1.3%, the biggest decrease since the third quarter of 2007. For the last year, productivity increased to 3.4% from the previously reported 2.8%. This is the fastest annual increase in productivity in four years. Unit labor costs rose 0.6% year-over-year, compared with the previous estimate of 1.5%. Low unit labor costs should dampen concern about wage growth pressure from high oil and commodity prices. DO YOU FOLKS SEE ANY PRODUCTIVITY? GOLD RALLIES, THEN FALLS ON THIS NEWS.