by sslifer | Dec 6, 2023 | NumberNomics Notes, Productivity
December 6, 2023 Non-farm productivity jumped 5.2% in the third quarter after climbing 3.6% in the second quarter after having declined 0.8% in the first quarter of this year. The second quarter increase consisted of a 6.1% increase in output combined with a 0.9%...
by sslifer | Dec 6, 2023 | NumberNomics Notes, Productivity
December 6, 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 | Dec 6, 2023 | NumberNomics Notes, Productivity
December 6, 2023 The Bureau of Labor Statistics indicated that hourly compensation rose 3.9% in the third quarter after jumping 6.2% in the second quarter and 6.5% in the first quarter. In the past year compensation has risen 4.0-%. Growth in hourly compensation is...
by sslifer | Dec 6, 2023 | Employment, NumberNomics Notes
December 6, 2023 As shown above the ADP survey shows a respectable correlation with the private sector portion of the payroll employment data to be released a couple of days later. And well it should. ADP, or Automatic Data Processing, Inc. is a provider of...
by sslifer | Dec 5, 2023 | NumberNomics Notes, Purchasing Managers Index
December 5, 2023 The Institute for Supply Management not only publishes an index of manufacturing activity each month, they publish two days later a survey of service sector firms. The business activity index tpdr 1.0 point in November to 55.1 after having fallen 4.7...
by sslifer | Dec 5, 2023 | Employment, NumberNomics Notes
December 5, 2023 The Labor Department reported that job openings fell 617 thousand in October to 8,733 thousand after having fallen 147 thousand in September. The pace of economic activity has been slowing a bit, but the labor market keeps hanging in there fairly...
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