Free Republic
Browse · Search
News/Activism
Topics · Post Article

Skip to comments.

US worker productivity fell at the fastest rate in nearly 75 years
https://edition.cnn.com ^ | May 5, 2022 | By Alicia Wallace, CNN Business

Posted on 05/08/2022 5:01:15 PM PDT by RomanSoldier19

US labor productivity tumbled by 7.5% in the first quarter of 2022 -- the largest decline in worker output per hour since 1947, according to Labor Department data released Thursday.

The report also showed that unit labor costs, or how much workers are paid per unit of output, surged by 11.6% during the quarter. That reflects a 3.2% increase in hourly compensation and a 7.5% decrease in productivity. Analysts polled by Refinitiv had projected a 5.4% decline in productivity and a 9.9% rise in labor costs. Thursday's data underscores the robust labor market, where competition for workers has pushed up wages as companies try to attract and retain talent. In March, job openings and quits set all-time highs at 11.5 million and 4.5 million, respectively.

At the same time, ongoing supply chain challenges, the pandemic and Russia's invasion of Ukraine have all contributed to surging inflation, which the Federal Reserve is attempting to tamp down by raising interest rates. On Wednesday, the Fed said it would raise its benchmark borrowing rate by 50 basis points.

(Excerpt) Read more at edition.cnn.com ...


TOPICS: News/Current Events
KEYWORDS: bidenlegacy; collapse; economy; employment; labor; productivity
Navigation: use the links below to view more comments.
first previous 1-2021-28 last
To: usconservative

I just Retired,,,
Everyday is SATURDAY!


21 posted on 05/08/2022 6:05:18 PM PDT by Big Red Badger (We Are JONAH)
[ Post Reply | Private Reply | To 19 | View Replies]

To: RomanSoldier19

Another Regime Woke success.


22 posted on 05/08/2022 6:17:55 PM PDT by Truth29
[ Post Reply | Private Reply | To 1 | View Replies]

To: RomanSoldier19

Originality in science, manufacturing as well as promoting a work ethic in the midst of lots of handouts etc. is difficult and not fun. Therefore, America is increasingly running on fumes.


23 posted on 05/08/2022 6:19:01 PM PDT by PerConPat (A politician is an animal which can sit on a fence and yet keep both ears to the ground - Mencken)
[ Post Reply | Private Reply | To 1 | View Replies]

To: RomanSoldier19
“ongoing supply chain challenges, the pandemic and Russia's invasion of Ukraine have all contributed to surging inflation”

^ ^ ^ ^
Here is the narrative cover for the bankster fraud Federal Reserve asset-buying spree and helicopter covid-scam money printing.
24 posted on 05/08/2022 7:07:55 PM PDT by ReaganGeneration2
[ Post Reply | Private Reply | To 1 | View Replies]

To: RomanSoldier19

I watch my DVD set frequently. In fact. “ShiftY” lived just a few miles away from me I never knew until the HBO series was released. Not that I would ever visit. Just a factoid.


25 posted on 05/08/2022 7:46:41 PM PDT by Organic Panic (Democrats. Memories as short as Joe Biden's eyes)
[ Post Reply | Private Reply | To 1 | View Replies]

To: PerConPat

26 posted on 05/08/2022 8:18:35 PM PDT by RomanSoldier19 (Res ad Triarios venit; )
[ Post Reply | Private Reply | To 23 | View Replies]

To: RomanSoldier19

When pay falls way behind inflation morale sinks.


27 posted on 05/08/2022 9:44:13 PM PDT by fella ("As it was before Noah so shall it be again,")
[ Post Reply | Private Reply | To 1 | View Replies]

To: cranked

But yet, according to Neocons, we’re ready for war with Russia.


28 posted on 05/09/2022 1:13:31 PM PDT by rottweiller_inc (inter canem et lupum)
[ Post Reply | Private Reply | To 2 | View Replies]


Navigation: use the links below to view more comments.
first previous 1-2021-28 last

Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.

Free Republic
Browse · Search
News/Activism
Topics · Post Article

FreeRepublic, LLC, PO BOX 9771, FRESNO, CA 93794
FreeRepublic.com is powered by software copyright 2000-2008 John Robinson