April jobs report: Payrolls rise by 428,000 as unemployment rate holds at 3.6%

[progree]

14. Productivity decreases 7.5% in Q1 2022; unit labor costs increase 11.6% (annual rates)

Yesterday's little-noticed productivity report, thanks mahatmakanejeeves
https://www.democraticunderground.com/111693192

(All quarterly percent changes in this release are seasonally adjusted annual rates.)

. . . Unit labor costs in the nonfarm business sector increased 11.6 percent in the first quarter of 2022, reflecting a 3.2-percent increase in hourly compensation and a 7.5-percent decrease in productivity

I bolded that 3.2 percent in hourly compensation because the other two numbers are in the headline. (Remember these are annualized numbers).

These are horrible numbers.

Perhaps caused in large part by:

Shipping delays are back as China's lockdowns ripple around the world, May 6, 2022
thanks mahatmakanejeeves
https://www.democraticunderground.com/111693196