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 the U.S. Department of Labor. Outside the coronavirus distortions in
November 4, 2021
