Labor Costs Surge in the Third Quarter; Productivity Falls Sharply

Reuters (11/04/21) Mutikani, Lucia Unit labor costs spiked in the third quarter, while productivity decreased at its sharpest pace since 1981, adding to signs that high inflation could last for a while. Unit labor costs rose at an 8.3% annualized rate last quarter after increasing at a 1.1% pace in the April-June quarter, according to […]

Private Sector Employment Increased in October

ADP News Release (11/03/21) Private sector employment increased by 571,000 jobs from September to October, according to the October ADP National Employment Report. “The labor market showed renewed momentum last month, with a jump from the third quarter average of 385,000 monthly jobs added, marking nearly five million job gains this year,” said Nela Richardson, […]