Average hourly earnings rose 0.5% from December and 4.1% year over year, outpacing forecasts as well as inflation. Was it just a blip?
Labor productivity has been increasing for more than two years, according to the Labor Department.
Unit labor costs are a way to measure productivity relative to workers’ compensation.
Higher tariffs and lower taxes are key to Trump’s plan. The WSJ’s Greg Ip weighs their potential effect on the economy Biden and the Fed built.
There’s good reason to believe productivity will stay strong. When the labor market was tight, employers invested in upgrades.
We’re making and doing more stuff in fewer hours.
Real wages also grew. To some extent, productivity growth offsets the inflationary effect of pay gains.
And they can achieve that through better collaboration with companies big and small in their industries.
Rising productivity makes possible rising living standards over time.
Along with the obvious human case for looking out for employees, climate change poses a serious threat to productivity and retention.