by sslifer | Sep 1, 2022 | NumberNomics Notes, Productivity
September 1, 2022 Non-farm productivity fell 4.1% in the second quarter after having plunged by 7.4% in the first quarter. The second quarter decline consisted of a 1.4% decline in output combined with a 2.7% increase in hours worked. Hence, a 4.1% decline in...
by sslifer | Sep 1, 2022 | NumberNomics Notes, Productivity
September 1, 2022 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 | Sep 1, 2022 | NumberNomics Notes, Productivity
September 1, 2022 The Bureau of Labor Statistics indicated that hourly compensation rose 5.7% in the second quarter after rising 4.4% in the first quarter. In the past year compensation has risen at a 6,7% pace. Growth in hourly compensation is a good thing, but...
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