by sslifer | Feb 6, 2025 | NumberNomics Notes, Productivity
February 6, 2025 Non-farm productivity 1.2% in the fourth quarter after climbing 2.3% in the third quarter and 2.1% in the second quarter. The fourth quarter increase consisted of a 2.3% increase in output combined with a 1.0% increase in hours worked. Hence, a 1.2%...
by sslifer | Feb 6, 2025 | NumberNomics Notes, Productivity
February 6, 2025 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 | Feb 6, 2025 | NumberNomics Notes, Productivity
February 6, 2025 The Bureau of Labor Statistics indicated that hourly compensation rose 4.2% in the fourth quarter after climbing by 2.9% in the third quarter. In the past year compensation has risen 4.3%. Growth in hourly compensation is a good thing, but that...
by sslifer | Feb 5, 2025 | NumberNomics Notes, Purchasing Managers Index
February 5, 2025 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 fell 3.5 points in January to 54.5 after having risen 4.3...
by sslifer | Feb 5, 2025 | Employment, NumberNomics Notes
February 5, 2025 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 | Feb 4, 2025 | NumberNomics Notes, Retail Sales
February 4, 2025 Unit car and truck sales sank 7.5% in January to 15,603 thousand after having risen 1.3% in December and 3.4% in November. Car sales picked up in the last few months of 2024 but clearly got whacked in January. The bitter cold weather throughout...
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