Labor productivity fell during the first quarter this year while labor costs rose, posing a challenge to the Federal Reserve as it raises interest rates in an attempt to control persistent, decades-high inflation. Nonfarm business sector labor productivity, which measures the hourly output per worker, declined by 2.7 percent in first quarter 2023, compared to…
The Future of Tech: Part 2
Commentary Part I discussed tech opportunities in areas like 5-G, cloud computing, healthcare, and finance, especially in insurance. This article examines opportunities for tech in meeting two huge issues facing the world’s economies. One is the growing number of older retirees in populations, and the other is the ever-present anxiety over climate change. Whether all the…
Small-Business Optimism Inches Up, but Inflation Remains ‘Serious Problem’: NFIB
September 13, 2022
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Business & Marketseconomyhigh inflationinflationlabor costssmall business ownerssmall business sentimentUSUS News
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Small-business sentiment saw an improvement in August, but continued to remain depressed, according to a survey by the National Federation of Independent Business (NFIB). The NFIB Small Business Optimism Index rose by 1.9 points last month, to 91.8, data from a Sept. 13 press release showed. Though the index reversed some of the declines seen…
American Corporations Rack Up Multi-Decade Record Profits Amid Rising Inflation
August 29, 2022
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Business & MarketsCompaniesCorporate Profitseconomyhigh inflationinflationlabor costsU.S. Bureau of Economic Analysis (BEA)USUS News
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While American citizens have been struggling with rising inflation over the past few months, corporations have reportedly netted record profits during the same period. Aftertax profits as a share of gross value added for nonfinancial corporations—a measure of aggregate profit margins—rose to 15.5 percent in the second quarter from 14 percent in the first, according…
US Corporations Rack Up Multi-Decade Record Profits Amid Rising Inflation
August 29, 2022
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Business & MarketsCompaniesCorporate Profitseconomyhigh inflationinflationlabor costsU.S. Bureau of Economic Analysis (BEA)USUS News
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While U.S. citizens have been struggling with rising inflation over the past few months, corporations have reportedly netted record profits during the same period. Aftertax profits as a share of gross value added for nonfinancial corporations—a measure of aggregate profit margins—rose to 15.5 percent in the second quarter from 14 percent in the first quarter,…
Weekly Jobless Claims Rise as Labor Output Hits Worst Decline in Production Rates Since 1947
U.S. labor output steeply declined in the first quarter of 2022, with its fastest drop in productivity in 75 years, while growth in unit labor costs accelerated, according to a May 5 report from the U.S. Bureau of Labor Statistics The government report indicated that rising wage pressures would continue to keep inflation elevated for the time…
Number of Americans Collecting Jobless Aid Lowest in 50 Years: Labor Department
Applications for jobless claims edged down in the week ending April 9 to their lowest level since 1970, according to the U.S. Department of Labor. “The advance number for seasonally adjusted insured unemployment during the week ending April 9 was 1,417,000, a decrease of 58,000 from the previous week’s unrevised level of 1,475,000. This is…
Organizers Say Tokyo Olympics Cost $1.8 Billion Less Than Expected
The Tokyo Olympics cost $1.8 billion less than anticipated, local organizers said Wednesday, 4 1/2 months after the Games ended. Organizers said the estimated official costs were $13.6 billion. Officials said part of the reduction was because there were no fans—forced by the pandemic—and therefore vastly reduced labor costs. They also said other outlays were…
Consumer Spending Sees Modest Rise as Inflation Stays Stubbornly High
Consumer spending—a key driver of the U.S. economy—saw a modest bump in September, even as inflation remained stuck at a 30-year high for the fourth month in a row and labor costs in the third quarter rose at their highest level in 20 years. The Commerce Department said on Oct. 29 that that the Fed’s preferred…
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