Nonfarm Productivity

March 4, 2021 Non-farm productivity declined 4.2% in the fourth quarter after having climbed by 4.2% in the third quarter after having surged by 11.1% in the second quarter.  The second and third quarter increases are huge. The fourth quarter drop consisted of a 5.5%...

Unit Labor Costs

March 4, 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

March 4, 2021 The Bureau of Labor Statistics  indicated that hourly compensation rose 1.5% in the fourth quarter.  It jumped 24.3% in the second quarter and then fell 5.8% in the third quarter before rising 1.5% in the fourth quarter.  The Q2 jump undoubtedly reflects...