He believes that positive supply-side forces will continue to damp the impact of strong demand on output prices and that productivity gains will continue to damp the effect of higher wages on unit labor costs.
There are no official statistics on China's unit labour costs.
For the average industry, the average company, we can make huge progress on solar, we can make huge progress on wind, but the unit costs -- energy costs that you get from those technologies relative to coal are still going to be pretty substantial.
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And today's government report on productivity and costs showed that unit labor costs grew 4.2% from the first quarter, above the consensus of 3.8% and much faster than the growth rate of productivity, which increased 1.1%, way below the 4.3% pace of last quarter.
And today's report on productivity and expenses showed that unit labor costs grew 4.2% from the first quarter, above the consensus of 3.8%--nearly four times the growth rate of productivity.
The airline estimates non-fuel unit costs to be 1% higher in Q3 on a y-o-y basis.
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The thinning payrolls led the fourth-quarter productivity rose by 3.2%, ahead of the 2.0% consensus estimate, with unit labor costs rising by a moderate 1.8% on an annualized basis.
In a more encouraging sign, fourth-quarter productivity rose by 3.2%, ahead of the 2.0% consensus estimate, with unit labor costs rising by a moderate 1.8% on an annualized basis.
Moreover, the trend growth in unit labor costs is less than 1% annualized, meaning there is a cap on wages which is a drag on consumer spending.
Furthermore, unit labor costs increased 2.2% in the second quarter, possibly putting additional pressure on margins.
FORBES: U.S. Productivity Falls As Labor Costs Rise Putting Pressure On Weak Job Markets
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