WASHINGTON — Federal Reserve Chair Jerome Powell on Wednesday underscored the Fed s commitment to reducing unemployment to multi-decade lows, where it stood before the pandemic, while signalling . . .
WASHINGTON — America’s employers barely added jobs last month, underscoring the viral pandemic’s ongoing grip on the economy and likely adding momentum to the Biden administration’s push for a bold
4Q2020 Preliminary Headline Productivity Contracts
A simple summary of the headlines for this release is that labor costs are growing and productivity is contracting on a quarter-over-quarter basis.
Analyst Opinion of Productivity and Costs
The overall view this quarter is that nonfarm productivity is up 2.5 % from the same quarter one year ago while unit costs are up 5.2 %.
Please note my productivity analysis at the end of this post which is at odds with the headline view. Doing a productivity analysis during a major recession or recovery period is a waste of time as productivity is obscured by government interventions.
The market was expecting from Econoday: