Productivity 2Q2012 (Preliminary): Growth of Unit Labor Costs Remain Moderate

Written by Steven Hansen One almost needs to begin with the caveats at the end of this post, as productivity is in the eye of the beholder. My view of productivity is one of an industrial engineer, while the Bureau of Labor Statistics (BLS) are bean counters using a simple hours vs output approach. Although …

Productivity 1Q2012 (Final): Decline Downwardly Revised

Written by Steven Hansen One almost needs to begin with the caveats at the end of this post, as productivity is in the eye of the beholder.  My view of productivity is one of an industrial engineer, while the Bureau of Labor Statistics (BLS) are bean counters using a simple hours vs output approach. Although …

Productivity 1Q2012: Output up, Hours Worked Up More

Written by Steven Hansen Based on preliminary data, the Bureau of Labor Statistics reported that non-farm business productivity decreased at an annual rate of 0.5% in the first quarter of 2012. The market was expecting between -0.5% and -0.6%.  However, if data is analyzed in year-over-year fashion, output is flat as shown on the graphs …

Productivity Grows in 4Q2011, Labor Costs Now Rising (final revised)

Written by Steven Hansen [Editor’s note: This is a markup of the preliminary data post so that the difference between the preliminary and final is obvious.] [The major change seems to be backward revision on unit labor costs for the 2H2011 which presents a different outlook on labor cost increases.]   

Earning Less – Why The Poor Get Poorer

by Guest Author Lance Roberts of Streettalk Live Working harder – earning less. That is what today’s release of productivity and labor costs showed us. With that also comes the realization that a lot more people would be reciting the classic prose of Johnny Paycheck’s “Take This Job And Shove It” if they thought they …