AP reports on a UN report thusly:
GENEVA (AP) – American workers stay longer in the office, at the factory or on the farm than their counterparts in Europe and most other rich nations, and they produce more per person over the year. They also get more done per hour than everyone but the Norwegians, according to a U.N. report released Monday, which said the United States “leads the world in labor productivity.” The average U.S. worker produces $63,885 of wealth per year, more than their counterparts in all other countries, the International Labor Organization said in its report. Ireland comes in second at $55,986, followed by Luxembourg at $55,641, Belgium at $55,235 and France at $54,609. The productivity figure is found by dividing the country’s gross domestic product by the number of people employed. The U.N. report is based on 2006 figures for many countries, or the most recent available. Only part of the U.S. productivity growth, which has outpaced that of many other developed economies, can be explained by the longer hours Americans are putting in, the ILO said. The U.S., according to the report, also beats all 27 nations in the European Union, Japan and Switzerland in the amount of wealth created per hour of work – a second key measure of productivity.
Twice this story used “wealth” (a stock) when referring to GDP, which is income flows. Shouldn’t those who report on economic matters know the distinction?