Hot on the heels of last week’s ‘Employment Cost Index’ which Fed Chair Powell commented on (as worrisome), US Unit Labor Costs surged 11.6% in Q1…
And at the same time, business output declined by 2.30% QoQ SAAR
Both of which combine to drive US Productivity crashing 7.5% in Q1 – that is the biggest drop since 1947
Read More: US Productivity Just Crashed By The Most Since 1947 As Labor Costs Explode
