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Is Industrial Employment is Too High by 50%?

Vincent Fernando, CFA and Kamelia Angelova have a piece of research from Celerant Consulting that explains why productivity has increased during employment reductions at American corporations.  Half of the time "worked" at American corporations by 208 employees tracked during the time period 2007-2009 was "non-productive".  Here is The Chart of the Day from Business Insider Clusterstock:

Disclosure: No stocks mentioned.