by Chuck Butler
Taking issue with productivity during the dog days of summer may seem somewhat hypocritical, but a recent visit to a local amusement park started the wheels turning about a subject that has seemingly fallen out of the spotlight: U.S. labor productivity. Historically viewed as a key component in the determination of growth for wages, prices, and economic activity, it seems that labor productivity has lost the attention of many market pundits, although this is not likely to continue for much longer.
But first, here’s an illustration. Back-dropped against one of the hottest days of the year, this annual pilgrimage was characterized by an afternoon of inordinately long lines and masses of aggravated, clammy patrons waiting in anticipation for a brief interlude of exhilaration.