Inflation
Productivity Crash: What May Be Happening, and Why It Matters
Last week the Bureau of Labor Statistics published its preliminary second-quarter report on labor productivity and labor costs. The headline numbers were worrisome — showing the second quarter in a row of sharp declines in non-farm labor productivity. The decline improved a little month-over-month, but year-over-year it was the sharpest Read more…
Inflation
Inflation, the Cost of Doing Business, and Labor Flexing Its Muscles
Businesses are facing rising costs, and it remains to be seen how “transitory” those will be. The consensus among analysts and officials has been gradually coming to the point of view we have had since early in 2021 — that inflation would be much stickier than their earlier hopeful (and Read more…
