I’ve made the point a lot that productivity has, over the past 30 years, soared while wages have remained flat in real terms over that period of time. That is important because when people are more productive at work that, in theory, should translate into wage increase.

   Well, here is a productivity number that is not what we should hope for:

The productivity of American workers grew in the second quarter at the fastest rate in almost six years as employers slashed payrolls to bolster profits.

Productivity, a measure of how much an employee produces for each hour worked, rose at an annual rate of 6.4 percent, more than forecast, after a 0.3 percent gain in the prior three months, the Labor Department said. Labor costs fell by the most in eight years.

   in other words, the rise in productivity here is coming from one thing–the loss of jobs. It’s a numbers game–the statistics come from simply doing division. In this case, fewer workers means that the overall output of each worker grows–for one reason only…companies dumped workers. That is not a good thing for society, even if it makes a number look better.