Nonfarm Productivity

June 3, 2021 Non-farm productivity rose 5.4% in the first quarter after having declined 3.8% in the fourth quarter. The first quarter increase consisted of an 8.6% increase in output combined with a 3.0% increase in hours worked. Hence, a 5.4% increase  in...

Unit Labor Costs

June 3, 2021 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

June 3, 2021 The Bureau of Labor Statistics  indicated that hourly compensation jumped 7.2% in the first quarter after having risen 9.7% in the fourth quarter.  In the past year compensation has risen 8.3%.  That is a solid gain, but keep in mind that Q2 of last year...