by sslifer | Nov 4, 2021 | NumberNomics Notes, Productivity
November 4, 2021 Non-farm productivity fell 5.0% in the third quarter after having risen 2.4% in the second quarter after rising 4.3% in the first quarter. The third quarter decline consisted of an 1.7% increase in output combined with a 7.0% increase in hours...
by sslifer | Nov 4, 2021 | NumberNomics Notes, Productivity
November 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...
by sslifer | Nov 4, 2021 | NumberNomics Notes, Productivity
November 4, 2021 The Bureau of Labor Statistics indicated that hourly compensation rose 2.9% in the third quarter after climbing 3.5% in the second quarter and 1.4% in the first quarter. In the past year compensation has risen at a 4.3% pace. Growth in hourly...
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