Secondary Estimates for Labor Department Data are Released as well as the October Trade Deficit
December 7, 2016    Disclosures    POSTED IN  Economy
  • The Labor Department released secondary estimates on both unit labor costs and productivity Tuesday. The Wall Street Journal reported unit labor costs for the third quarter were revised higher from a 0.3% increase to a 0.7% increase.  This is a measure of wage growth by the expenses incurred on firms to pay workers for output.  Further found in the article, productivity growth remained at a steady increase of 3.1%, aligned with initial estimates.  Productivity growth is the largest factor that contributes to increased living standards and has been growing at lower levels compared to historic figures.  In a separate article by The Wall Street Journal, the trade deficit announcement for the month of October by the Commerce Department was reported on with the inclusion of a 17.8% rise in the gap between goods and services to $42.6 billion.
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