Reuters (11/04/21) Mutikani, Lucia Unit labor costs spiked in the third quarter, while productivity decreased at its sharpest pace since 1981, adding to signs that high inflation could last for a while. Unit labor costs rose at an 8.3% annualized rate last quarter after increasing at a 1.1% pace in the April-June quarter, according to the U.S. Department of Labor. Outside the coronavirus distortions in
ADP News Release (11/03/21) Private sector employment increased by 571,000 jobs from September to October, according to the October ADP National Employment Report. “The labor market showed renewed momentum last month, with a jump from the third quarter average of 385,000 monthly jobs added, marking nearly five million job gains this year,” said Nela Richardson, chief economist, ADP. “Service sector providers led the increase and
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