Nonfarm Productivity

February 1, 2024 Non-farm productivity rose 3.2% in the fourth quarter after having jumped 4.9% in the third quarter.   The fourth quarter increase consisted of a 3.7% increase in output combined with a 0.4% increase in hours worked. Hence, a 3.2% increase in...

Unit Labor Costs

February 1, 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...

Hourly Compensation

February 1, 2024 The Bureau of Labor Statistics  indicated that hourly compensation rose 3.7% in the fourth quarter after gaining 3.8% in the third quarter.  In the past year compensation has risen 5.0-%. Growth in hourly compensation is a good thing, but that...