Nonfarm Productivity

May 5, 2022 Non-farm productivity plunged by 7.5% in the first quarter after having jumped 6.3% in the fourth quarter.  The quarterly data have been extremely volatile since the beginning of the recession in March and April 2020.   The fourth quarter  increase...

Unit Labor Costs

May 5, 2022 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 5, 2022 The Bureau of Labor Statistics  indicated that hourly compensation rose 3.2% in the fourth quarter after having jumped 7.4% in the fourth quarter.  In the past year compensation has risen at a 6.5% pace. Growth in hourly compensation is a good thing, but...