The stock market is showing some positive signs this morning ,as I write, with companies boosting profits without having to hire. (At least something positive, although I would like to see a boost in hiring). What's worrying the stock market is the continuing problems in Europe and Facebook's stock price having dropped so much. Here are the details:
"Wednesday, September 5, 2012, 5:33 AM PDT
US productivity grew at 2.2 percent rate in April-June quarter, faster than previously thought." Yahoo news.
"Companies boosted profits without hiring this spring (So how did those companies make more stuff and serve more customers without hiring more workers?)
They didn't ask employees to work more hours. They asked them to work harder. And they didn't hand out raises.
The Labor Department reported Wednesday that the productivity of the U.S. workforce rose at a much faster clip than previously thought in the second quarter. Productivity – which simply measures the volume of goods and services produced per worker per hour – jumped at a 2.2 percent annual rate. That was faster than many economists had expected." MSN
"After years of speculation that the social media giant would go public, it finally did so in May, and since then its stock price has fallen 53 percent and counting, washing away more than $50 billion in market value.
Facebook's share price hit a new all-time low Tuesday, sinking below $18 for the first time, although it perked up in after-hours trading on news the company had taken steps to reassure investors and its own employees as its share price spirals downward." MSN
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