by sslifer | Jun 1, 2023 | Housing, NumberNomics Notes
June 1, 2023 Construction spending (the green bars above) rose 1.2% in April after climbing 0.3% in March and jumping 2.4% in March. In the past 12 months it has risen 7.2%. As indicated below, spending on the construction of single-family housing has declined...
by sslifer | Jun 1, 2023 | NumberNomics Notes, Purchasing Managers Index
June 1, 2023 The Institute for Supply Management’s index of conditions in the manufacturing sector edged lower by 0.2 point in May to 46.9 after having risen 0.8 point in April after having declined 1.4 points in March. After falling steadily last year the index has...
by sslifer | Jun 1, 2023 | NumberNomics Notes, Productivity
June 1, 2023 Non-farm productivity felll 2.1% in the first quarter of this year after having risen 1.6% in the fourth quarter. The first quarter decline consisted of a 0.5% increase in output combined with a 2.6% increase in hours worked. Hence, a 2.1% decline in...
by sslifer | Jun 1, 2023 | NumberNomics Notes, Productivity
June 1, 2023 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...
by sslifer | Jun 1, 2023 | NumberNomics Notes, Productivity
June 1, 2023 The Bureau of Labor Statistics indicated that hourly compensation rose 2.1 % in the first quarter after fallen by 0.7% in the fourth quarter of last year. In the past year compensation has risen 3.0%. Growth in hourly compensation is a good thing, but...
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