US Labor Productivity Output Plunges To Carter-era Stagnation Levels As Unit Labor Costs Soar

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The last time we saw US labor productivity out per hour this low was in 1981 when President Reagan inherited stagflation from President Jimmy Carter.

As unit labor costs soar +8.3%.

Any wonder that the 1% have been doing so well relative to the bottom 50% in terms of wealth since entrance of The Fed in 2008 with zero-interest rate policies (ZIRP) and assets purchases (QE). And also after Covid struck.

“That will be $10,000 for your Big Mac, fries and a soda, please!”

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