The Labor Department's Bureau of Labor Statistics (BLS) this morning released its quarterly report on Productivity and Unit Labor Costs for the first quarter of 2025 (preliminary):
Nonfarm Productivity
Previous: +1.5%
Actual: -0.8%
- Change from A Year Ago: +1.4%
=============
Unit Labor Costs
Previous: +2.2%
Actual: +5.7%
- Change from A Year Ago: +1.3%
=============
The yellow-highlighted percentages represent the quarter-to-quarter change in non-farm productivity and unit labor costs for the United States.
For non-farm productivity, a positive number represents an improvement in the efficiency of producing domestic goods and services in the U.S., and therefore can signify a favorable inflationary outlook, and vice versa.
The Unit Labor Costs report measures the costs related to producing each unit of output. A positive number can be a harbinger of rising inflation, and vice versa.
The "predicted" figure is what economists were expecting, while the "actual" is the true or real figure.
===================
Q1 2021 Through Q1 2025 (Preliminary)
===================
From Today's Report
"...This is the first decline in nonfarm business sector labor productivity since the second quarter of 2022..."
===================
No comments:
Post a Comment