by sslifer | Dec 10, 2024 | NumberNomics Notes, Productivity
December 10, 2024 Non-farm productivity rose 2.2% in the third quarter after climbing 2.1% in the second quarter. The third quarter increase consisted of a 3.5% increase in output combined with a 1.2% increase in hours worked. Hence, a 2.2% increase in productivity...
by sslifer | Dec 10, 2024 | NumberNomics Notes, Productivity
December 10, 2024 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 10, 2024 | NumberNomics Notes, Productivity
December 10, 2024 The Bureau of Labor Statistics indicated that hourly compensation rose 3.1% in the third quarter after rising 1.0% in the second quarter. In the past year compensation has risen 4.3%. Growth in hourly compensation is a good thing, but that increase...
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