Labor Blues! US Labor Productivity Declines -4.6% In Q2 As Unit Labor Costs Sizzles At 10.8% (Fed Balance Sheet Still Out In Force)

Labor Blues!

US labor productivity declined in Q2, down -4.6% since Q1. At the same time, unit labor costs continue to soar at a rate of 10.8%.

You can see that The Federal Reserve has begun to SLOWLY reduce it balance sheet.

Somehow, I don’t think Biden’s team will be discussing today’s news, other than report that “It’s A Beautiful Day Today.”