Unit Labor Costs: More “worrying” news for the Fed

Compared to the second quarter of 2016, productivity increased at a 1.2% rate, quite a bit above the 0.7% year-on-year average observed since late 2010. With productivity rising, unit labor costs, the price of labor per unit of output, fell 0.2% year-on-year in the second quarter. Coming on the heels of a recent moderation in…

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