by sslifer | May 6, 2021 | NumberNomics Notes, 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...
by sslifer | May 6, 2021 | NumberNomics Notes, Productivity
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...
by sslifer | May 6, 2021 | NumberNomics Notes, Productivity
May 6, 2021 The Bureau of Labor Statistics indicated that hourly compensation jumped 5.1% in the first quarter after having risen 1.6% in the fourth quarter. In the past year compensation has risen 5.8%. That is a solid gain, but keep in m ind that Q2 of last year...
by sslifer | May 6, 2021 | Employment, NumberNomics Notes
May 6, 2021 Initial unemployment claims for the week of May 1 fell 92 thousand to 498 thousand after having risen 24 thousand in the previous week. The May 1 level is the lowest level of claims since March 14, 2020 when it was 256 thousand. After reaching a peak of...
by sslifer | May 5, 2021 | NumberNomics Notes, Purchasing Managers Index
May 5, 2021 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 service sector business activity index declined by 6.7 points in April to 62.7 but this...
by sslifer | May 5, 2021 | Employment, NumberNomics Notes
May 5, 2021 As shown above the ADP survey shows an impressive 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...
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