American Economics Thread
- Thread starter Bernard
- Start date
No, salary raises for the workers are BAD. BAD, you hear me?
. Wall Street Journal
Our airlines offer only the finest accomodations to our customers. Air Canada is top of the line in service, right next to United Airlines.
Guardian
. Wall Street Journal
Our airlines offer only the finest accomodations to our customers. Air Canada is top of the line in service, right next to United Airlines.
Guardian
US Productivity Grows by Most Since 2020, Labor Costs Decrease
- Output per hour of work rose at a 4.7% rate in third quarter
Can't read paywall article, but is the article talking about monetary productivity or is it talking about more tons of steel, iron etc being produced?
US labor productivity includes both goods and services but not farm. It is mostly services sector that have elevated labor costs increase that finally finding relief. During the Pandemic, many companies especially those small and middle businesses were unable to find workers. Therefore, even though the economy has slowdown somewhat in the US but companies were reluctant to terminate employees which cause the labor costs to increase and inefficiency. This report indicates companies finally feel confident enough to fire workers as labor shortages issue is resolved by the economy slowdown.
The ISM Services PMI fell to 51.8 in October 2023, the lowest in five months, and way below forecasts of 53. Slower increases were seen for business activity/production (54.1 vs 58.8) and employment (50.2 vs 53.4) while inventories (49.5 vs 54.2) and new export orders (48..8 vs 63.7) contracted. On the other hand, new orders grew faster (55.5 vs 51.8) and prices rose slightly less (58.6 vs 58.9). Meanwhile, supplier deliveries fell to 47.5 from 50.4, indicating that supplier delivery performance was ‘faster’ in contrast to the ‘slowing’ status from the previous month. "Sentiment among firms is mixed, with some optimistic about the current steady and stable business conditions and others concerned about such economic factors as inflation, interest rates and geopolitical events. Employment-related challenges are also prevalent, with comments about increasing labor costs, as well as shortages”, Anthony Nieves, Chair of the ISM Services Business Survey Committee said.
source: Institute for Supply Management
source: Institute for Supply Management
Defunding education system to suppress dissents. Check.
One step closer to becoming an authoritarian regime by the text book.
I know China is not better in this particular area. But at least China can now shout back at the US with the line of "Look at yourself in a mirror!".