Productivity and unemployment...

...Both work together but in opposite ways. As productivity improves, much more can be done by the same person, and therefore productivity gains should be matched by the same GDP growth rate in order to keep everything balanced.

This evidently is not the case, even in emerging powerhouses like China or Brazil. Obviously our so-called “economists” and our dear politicians don't seem to understand or even acknowledge that fact and the rest of us are now faced with this terrible conundrum.

Put it in simpler terms; we've just been cutting the branch we were comfortably sitting on...