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Stories Tagged as

Labor costs

Labor costs are still going up, but the rate is going down

by Henry Epp
Feb 1, 2024
Bureau of Labor Statistics data shows that 2023 saw a pullback in labor cost growth. That may keep the downtrend in inflation going.
The pace of wage growth pulled back last year, which could constrain price increases across the economy in 2024.
Joe Raedle/Getty Images
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Restaurants outpacing grocery stores when it comes to inflation

by Kristin Schwab
Dec 25, 2023
Supermarkets and restaurants business relies on selling food. So why are prices rising more in the latter?
On average, labor costs eat up about 30% of a restaurant’s gross revenue.
Spiderplay/Getty Images
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In tight labor market, businesses practice "strategic retention"

by Elizabeth Trovall
Oct 26, 2023
Economists at the Dallas Fed reported some evidence of “labor hoarding” in the latest Beige Book.
Joe Raedle/Getty Images
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Labor costs are a key ingredient in food inflation

by Stephanie Hughes
Aug 11, 2023
And consumers of all income levels are adopting creative strategies to make their dollars stretch farther.
Generally, only 15% of the price of something like peanut butter goes to the farmer who produced the raw ingredients, says Chris Barrett, aprofessor of agricultural and development economics at Cornell. More goes to the production and transporting of the final product.
Justin Sullivan/Getty Images
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Keeping up with cat-flation and the rising minimum wage

by Nicholas Guiang
Feb 14, 2023
The entrepreneur behind a Florida cat cafe hopes 2023 brings reduced costs and many more adoptions.
The costs of cat care supplies have increased, and the owner of a cat cafe in Florida is looking for alternatives.
Andrew Burton/Getty Images
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For this Maine chocolatier, labor is the "No. 1 cost to stay competitive"

by Sean McHenry
Jul 13, 2022
"To keep our great team, we have raised our wages significantly," said Kristin Thalheimer Bingham, co-owner of Dean's Sweets in Portland, Maine.
Chocolate "bombs" being prepared at Dean's Sweets in Portland, Maine.
Kaitlin Toto Photography
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