U.S.: Productivity and Costs, First Quarter 2018
May 3, 2018 Labor productivity, or output per hour, for nonfarm business sector increased 0.7 percent during the first quarter of 2018, reflecting an increase of 2.8 percent in output while hours worked increased 2.1 percent. On an annual basis, from the first quarter of 2017 to the first quarter of 2018, productivity increased 1.3 percent due to an increase in output of 3.6 percent and a 2.2 percent increase in hours worked. According to the U.S. Bureau of Labor Statistics, unit labor costs for nonfarm businesses, which is calculated as the ratio of hourly compensation to labor productivity, increased
Daily Market Summary May 2, 2018
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Fed decides to keep rates in check
May 2, 2018 The Federal Open Market Committee decided to maintain the target range for the federal funds rate at 1-1/2 to 1-3/4 percent. According to a press release by the Federal Open Market Committee, “the labor market has continued to strengthen and that economic activity has been rising at a moderate rate. Job gains have been strong, on average, in recent months, and the unemployment rate has stayed low.” Additionally, both headline and core inflation have moved close to 2 percent. The Fed sees its latest move to keep the federal funds rate in check as keeping with its