Nonfarm Productivity

November 5, 2020 Non-farm productivity climbed by  by 4.9% in the second quarter after having surged by 10.6% in the second quarter.  Those are huge gains.  In the past 10 years productivity has grown by 1.5%.  The second quarter run-up consisted of a 43.5% increase...

Unit Labor Costs

August 14 2020 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

August 14, 2020 The Bureau of Labor Statistics initially indicated that hourly compensation jumped 20.4% in the second quarter after having risen 9.4% in the first quarter after having risen 3.4% in the fourth quarter.  However, the Q2 jump undoubtedly reflects the...