Productivity vs. Stock Market Chart
This chart shows the year-over-year change in Productivity (output per hour), in the Non-farm, Business, and Manufacturing sectors, in relation to the S&P 500. Productivity measures the efficiency (output vs. labor costs) of output in the US. High Productivity means producers are getting more output from their workers, and is a bullish signal for the business and manufacturing sectors. It can also result from recent layoffs, so careful study is needed in its use in timing the market.
( HINT: Click-and-drag left-to-right on the top chart (S&P 500) to zoom in to a specific date range. Double-click on S&P 500 chart to zoom back out. )