by sslifer | Mar 6, 2025 | NumberNomics Notes, Productivity
March 6, 2025 Non-farm productivity 1.5% in the fourth quarter after climbing 2.0% in the third quarter and 2.1% in the second quarter. The fourth quarter increase consisted of a 2.4% increase in output combined with a 0.8% increase in hours worked. Hence, a 1.5%...
by sslifer | Mar 6, 2025 | NumberNomics Notes, Productivity
March 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 | Mar 6, 2025 | NumberNomics Notes, Productivity
March 6, 2025 The Bureau of Labor Statistics indicated that hourly compensation rose 3.8% in the fourth quarter after climbing by 1.3% in the third quarter. In the past year compensation has risen 4.0%. Growth in hourly compensation is a good thing, but that...
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