GDP Back -- And I'll Wager It's Due In Part To Cell Phones

Link here.

GDP has made a complete recovery and is above its pre-recession level for the first time -- 3Q11 and unemployment is still almost 7 million below pre-recession peak.

In other words, according to Carpe Diem, the US is producing more output now than ever before in U.S. history, but we're doing it with 6.6 million fewer workers than it took to produce roughly that same output in Q4 2007. 

I've said more than once the unemployment is due to tectonic shifts in the way America does business. I would wager that cell phones are a huge component of why America's productivity is greater than ever despite huge unemployment.