Posted on 03/05/2015 10:01:13 AM PST by Olog-hai
U.S. worker productivity was even weaker than first thought from October through December while labor costs rose at a faster rate.
Productivity declined at an annual rate of 2.2 percent in the fourth quarter, weaker than the 1.8 percent drop that was estimated a month ago, the Labor Department said Thursday. Labor costs rose at a 4.1 percent rate, faster than the 2.7 percent increase first estimated.
Weaker productivity and higher labor costs could spell inflation troubles for the economy. But analysts say that the changes in the fourth quarter are temporary and not an indication that inflation is about to be a problem. …
(Excerpt) Read more at hosted.ap.org ...
How much impact has the following had on less jobs:
1. New proposed minimal wages?
2. Obama Care costs for full time employees?
3. Our new fledgling oil industry laying off employees due to the lower cost of oil?
4. Costly labor strikes like the long shore union strike on the West Coast for close to a year and now the employees on strike in gasoline refineries?
5. Anti business bs from the Green Economic Terrorists?
This is from Associated Propagandists?
Mayor to NYC business leaders: Start pay at $13 an hour
3/5/2015, 10:06:09 AM · by Olog-hai · 20 replies
Associated Press ^ | Mar 5, 2015 12:11 PM EST | Jonathan Lemire
Mayor Bill de Blasio, promoting his message of income equality and empowering the less fortunate, pressed influential New York City business leaders on Thursday to raise their workers’ starting pay to $13 an hour. The liberal mayor made his call in front of a group that broadly supported his predecessor, billionaire businessman Michael Bloomberg, and at times had been skeptical of de Blasio’s agenda: a gathering of the well-heeled and powerful known as The Association for a Better New York. “I want to call on you, the business leaders gathered in this room, to do your part,”
Labor productivity is surely being reduced by the decline in English language skills possessed by our growing Hispanic immigrant population and the false credentials being awarded by our public schools.
Productivity and labor costs are not two different things. Labor costs are a factor in productivity. Higher labor costs must result in lower productivity.
Worst employment situation since the great depression, and I’m not even convinced that was worse.
People can use the words to mean anything they want, but if we say productivity is output per hour and labor costs are pay per hour then they become different. fwiw, this is what we got:
Nobody's talking about it but before '07 when the U.S. got taken over by the professional victims we had climbing real wages along with climbing output. Since then we've seen output stalling and the beginnings of a wage crunch. My bet's on future wage cuts.
Why would raising the minimum wage lower productivity?
Do people work harder if they got a big raise for just being there.
After the mandatory minimum wage raises, the unions will come in to really drive productivity down. Productivity will go down regardless if the businesses become union or not.
What happened after 2007?
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