THE JOB CUTS NEVER EVEN GOT DOWN TO MUSCLE:

The Amazing Gains In Worker Productivity = Record Output In Q4 2010 With 7 Million Fewer Workers (Mark Perry, February 2, 2011, Daily Markets)

But here’s what’s really amazing and is illustrated in the bottom chart: The U.S. produced slightly more output in Q4 2010 (by 0.14%) than in Q4 2007 when the recession started, but with 7.2 million fewer workers (almost 5%)!