WASHINGTON Trying to keep up with customer demand, Batesville Tool & Die began seeking 70 people to hire last year. It wasn't easy. Attracting factory workers to a community of 7,300 in the In.
The last time the U.S. economy was posting surprising economic growth numbers amid rapid wage gains and moderating inflation, Ace of Base and All-4-One topped the Billboard charts and denim overalls were in vogue. Thirty years ago, officials at the Federal Reserve were hotly debating whether the economy could continue to chug along so vigorously without spurring a pickup in inflation. And back in 1994, it turned out that it could, thanks to one key ingredient: productivity. Now, official product
Robots and happier workers: Productivity surge helps explain US economy s surprising resilience adn.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from adn.com Daily Mail and Mail on Sunday newspapers.
Across the United States, chronic worker shortages have led many companies to invest in machines to do some of the work they can’t find people to do. They’ve also been training the workers they do have to use advanced technology so they can produce more with less. The result has been an unexpected productivity boom, which helps explain a great economic mystery: How has the world’s largest economy managed to remain so healthy, with brisk growth and low unemployment, despite brutally high interest rates that are intended to tame inflation but that typically cause a recession?