Nonfarm Productivity

May 7, 2020 Non-farm productivity fell 2.5% in the first quarter after having climbed 1.2% in the fourth quarter.  The 2.5% drop in the first quarter consists of a 6.3% in output combined with a 3.9% decline in hours worked. Stephen Slifer NumberNomics Charleston,...

Unit Labor Costs

May 7, 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

May 7, 2020 The Bureau of Labor Statistics initially indicated that hourly compensation rose 2.2% in the first quarter after having risen 2.1% in the fourth quarter.  But as the recession widens in the second quarter it is an almost sure bet that compensation that...