EVERYONE complains that corporate America isreluctant to hire additional workers. Far less attention has been paid to the flip side of the jobless recovery: the remarkable improvement in American productivity. How long can this continue? I see no limit, says William Hickey, the boss of Sealed Air, a packaging-maker. Is he right to be so optimistic?

　　企業不愿再增加雇傭量在美國引起民怨沸騰。但很少有人關注減少失業率的有效途徑：顯著提升美國的勞動生產率水平。這種提升能持續多久?包裝材料制造商寶廷的老總William Hickey 說：依我看來可無限期提升。他的這種樂觀估計是對還是錯?

　　American firms were slow to react to the downturn at the beginning of the century, and paid the price. They learned their lesson. When the economy slumped in 2008, they were much quicker to adjust. There was little of the fall in labour productivity that normally accompanies a recession, and this was not just a one-off batting average effect . Rather, it was a productivity boost that has continued in defiance of expert predictions that workers can only be squeezed so hard for a short while.

　　新世紀之初，美國企業在應對經濟衰退時反應遲鈍，并為此付出了代價。它們吸取了教訓，更快地適應了2008年的經濟大蕭條，且勞動生產率也沒有如往常隨經濟衰退而下降。這不只是一次性實現的棒球擊球率效應。專家們認為這是一種依靠壓榨產業工人在短時期內維持的經濟增長模式。然而恰恰相反，這種增長是靠全力提升勞動生產率實現的。

　　After falling in the first half of the year, American labour productivity was 2.3% higher in the third quarter of 2011 than in the same period a year earlier. This was the fastest quarterly rise in 18 months. Manufacturing productivity in that quarter rose by 2.9% compared with a year earlier. Americas productivity growth has been more robust than most other rich countriesa feat many ascribe to its flexible labour market and a culture of enterprise.

　　經歷了上半年的下降后，2011年第三季度美國的勞動生產率同比增長了2.3%，這是 18個月內最快的季度性增長。該季度制造業生產率同比增長了2.9%。美國的生產率比絕大多數發達國家增長得更為強勁許多人將這一成就歸功于美國靈活的勞動力市場機制和特有的企業文化。

　　Yet some analysts expect productivity growth to stall soon. Hard-pressed workers are feeling grouchy: workforce surveys report record levels of job dissatisfaction. Many firms have been starving the organisation to see how it can do with a lower cost structure, says Carsten Stendevad of Citigroup, a bank. Unless the economy picks up, he predicts that productivity growth will slow in 2023.

　　但有些分析師認為生產率不久將停止增長。重重壓力令產業工人們牢騷不斷：勞動力調查顯示出對工作表示不滿的人數創了紀錄。 Citigroup銀行的Carsten Stendevad說，很多公司正忍饑挨餓，以 測試自身在低成本狀態下的生存能力。他預計，只要經濟形勢沒有好轉，2023年生產率增長就會放緩。

　　Two things could keep productivity rising. First, workers are terrified of losing their jobs. This makes it easier to persuade them to put in extra hours or shoulder new tasks. Even in unionised firms, there have been reports of greater flexibility. Workers have been staying on the job longer rather than featherbedding their hours by, for example, queuing up early to clock off as soon as the shift ends.

　　有兩個因素能使生產率持續增長。其一，工人們害怕失業，這使得鼓勵他們加班或干其它的活變得更加容易。據媒體報道，即使企業里有工會，維權活動仍更具彈性。工人們將更多的時間用于工作，而不是一到換班時間便早早排隊下班等浪費行為。

　　EVERYONE complains that corporate America isreluctant to hire additional workers. Far less attention has been paid to the flip side of the jobless recovery: the remarkable improvement in American productivity. How long can this continue? I see no limit, says William Hickey, the boss of Sealed Air, a packaging-maker. Is he right to be so optimistic?

　　企業不愿再增加雇傭量在美國引起民怨沸騰。但很少有人關注減少失業率的有效途徑：顯著提升美國的勞動生產率水平。這種提升能持續多久?包裝材料制造商寶廷的老總William Hickey 說：依我看來可無限期提升。他的這種樂觀估計是對還是錯?

　　American firms were slow to react to the downturn at the beginning of the century, and paid the price. They learned their lesson. When the economy slumped in 2008, they were much quicker to adjust. There was little of the fall in labour productivity that normally accompanies a recession, and this was not just a one-off batting average effect . Rather, it was a productivity boost that has continued in defiance of expert predictions that workers can only be squeezed so hard for a short while.

　　新世紀之初，美國企業在應對經濟衰退時反應遲鈍，并為此付出了代價。它們吸取了教訓，更快地適應了2008年的經濟大蕭條，且勞動生產率也沒有如往常隨經濟衰退而下降。這不只是一次性實現的棒球擊球率效應。專家們認為這是一種依靠壓榨產業工人在短時期內維持的經濟增長模式。然而恰恰相反，這種增長是靠全力提升勞動生產率實現的。

　　After falling in the first half of the year, American labour productivity was 2.3% higher in the third quarter of 2011 than in the same period a year earlier. This was the fastest quarterly rise in 18 months. Manufacturing productivity in that quarter rose by 2.9% compared with a year earlier. Americas productivity growth has been more robust than most other rich countriesa feat many ascribe to its flexible labour market and a culture of enterprise.

　　經歷了上半年的下降后，2011年第三季度美國的勞動生產率同比增長了2.3%，這是 18個月內最快的季度性增長。該季度制造業生產率同比增長了2.9%。美國的生產率比絕大多數發達國家增長得更為強勁許多人將這一成就歸功于美國靈活的勞動力市場機制和特有的企業文化。

　　Yet some analysts expect productivity growth to stall soon. Hard-pressed workers are feeling grouchy: workforce surveys report record levels of job dissatisfaction. Many firms have been starving the organisation to see how it can do with a lower cost structure, says Carsten Stendevad of Citigroup, a bank. Unless the economy picks up, he predicts that productivity growth will slow in 2023.

　　但有些分析師認為生產率不久將停止增長。重重壓力令產業工人們牢騷不斷：勞動力調查顯示出對工作表示不滿的人數創了紀錄。 Citigroup銀行的Carsten Stendevad說，很多公司正忍饑挨餓，以 測試自身在低成本狀態下的生存能力。他預計，只要經濟形勢沒有好轉，2023年生產率增長就會放緩。

　　Two things could keep productivity rising. First, workers are terrified of losing their jobs. This makes it easier to persuade them to put in extra hours or shoulder new tasks. Even in unionised firms, there have been reports of greater flexibility. Workers have been staying on the job longer rather than featherbedding their hours by, for example, queuing up early to clock off as soon as the shift ends.

　　有兩個因素能使生產率持續增長。其一，工人們害怕失業，這使得鼓勵他們加班或干其它的活變得更加容易。據媒體報道，即使企業里有工會，維權活動仍更具彈性。工人們將更多的時間用于工作，而不是一到換班時間便早早排隊下班等浪費行為。