Labor costs are moderating for U.S. employers

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News, Business

4.5 • 1.4K Ratings

🗓️ 31 January 2024

⏱️ 1 minutes

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Summary

The employment cost index advanced at a slower pace in Q4 of 2023; Boeing lost $30 million in last quarter, before Alaska Airlines accident; judge rescinds Musk’s compensation deal with Tesla; Red Sea shipping disruptions to continue for months, Hapag-Lloyd says.

Transcript

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0:00.0	The Labor Department's employment cost index measuring
0:03.0	and employee is moderating a bit.
0:05.0	I'm Nova Safo with a Marketplace minute.
0:07.0	The Labor Department's Employment Cost Index
0:09.0	measuring pay and benefits rose 9 tenths
0:12.0	percent in the three months ending in December.
0:13.7	That's a modest slowdown from the previous quarter and is more evidence
0:17.2	suggesting inflation might decrease in the near future that could encourage
0:20.9	Federal Reserve officials to cut interest rates.
0:23.0	Boeing lost $30 million in its last quarter
0:26.0	and that's before a panel blowout of a Max Nine jet operated by Alaska Airlines
0:30.0	earlier this month.
0:32.0	The company today did not update its financial guidance as it deals
0:35.2	with continuing fallout. A Delaware judge rescinded a 56 billion dollar compensation agreement between
0:41.7	Tesla and Elon Musk calling it
0:43.4	excessive, the unusual ruling could be appealed. Shipping giant Hapag Lloyd
0:48.6	expects disruptions and cargo flow through the Red Sea to continue for months.
0:52.3	The company said a political deal is
0:54.0	needed to end attacks by the Huti militia in Yemen. Shipping prices are up.
0:59.2	I'm Novizafo with a marketplace minute.

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