Inflation-adjusted hourly compensation is down 5.2% since the final quarter of '20 and is unchanged from a year ago, despite an increase in productivity and higher nominal pay: pic.twitter.com/1goh8soIMQ
— E.J. Antoni, Ph.D. (@RealEJAntoni) August 1, 2024
US CPI inflation set to collapse. The Q2 productivity and unit labour cost data are just out and shows yoy rises of 2.7% and 0.5% respectively. ULC are regarded as the main driver of core CPI inflation which will now continue trending (much) lower.t.co/Dn4Z342Bw9 pic.twitter.com/mVpUqngXrx
— Albert Edwards (@albertedwards99) August 1, 2024
Q2 labor productivity report shows inflation wiped out annual gains in workers' hourly compensation, driving the real increase down to 0.0% from same time last year – folks are more productive and thus earning more, but gov't is taking 100% of those gains via inflation: pic.twitter.com/qiGNLch2G7
— E.J. Antoni, Ph.D. (@RealEJAntoni) August 1, 2024