Unit labor costs are a way to measure productivity relative to workers’ compensation.
The decline helped bring the annual rate of inflation at the wholesale level down to 2.2%.
Bureau of Labor Statistics data shows that 2023 saw a pullback in labor cost growth. That may keep the downtrend in inflation going.
Supermarkets and restaurants business relies on selling food. So why are prices rising more in the latter?
Economists at the Dallas Fed reported some evidence of “labor hoarding” in the latest Beige Book.
And consumers of all income levels are adopting creative strategies to make their dollars stretch farther.
The entrepreneur behind a Florida cat cafe hopes 2023 brings reduced costs and many more adoptions.
“To keep our great team, we have raised our wages significantly,” said Kristin Thalheimer Bingham, co-owner of Dean’s Sweets in Portland, Maine.
