Nonfarm Workweek

May 7 2021 In any given month employers can boost output by either additional hiring or by lengthening the number of  hours that their employees work.  Payroll employment rose by a mere 266 thousand in April was far less than the increase of 950 thousand that was...

Average Duration of Unemployment

May 7, 2021 The average duration of unemployment fell 0.9 week in april to 28.8 weeks after rising by 2.1 weeks in March.  Many of the people that became unemployed earlier in 2020 remain unemployed. Stephen Slifer NumberNomics Charleston,...

Nonfarm Productivity

May 6, 2021 Non-farm productivity rose 5.4% in the first quarter after having declined 3.8% in the fourth quarter. The first quarter increase consisted of an 8.4% increase in output combined with a 2.9% increase in hours worked. Hence, a 5.4% increase  in productivity...

Unit Labor Costs

April 6, 2021 Unit labor costs might be a term that is not familiar to you.  Unit labor costs represent the increase in compensation adjusted for the gains in productivity.  You might think that if labor costs are rising that would put upward pressure on...