Productivity increases at slower pace
Marketplace All-in-One
Marketplace
4.5 • 1.4K Ratings
🗓️ 2 May 2024
⏱️ 1 minutes
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Summary
Stocks rise; compensation outpaces productivity; slowdown could push prices higher; imports fall.
Transcript
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| 0:00.0 | This is the Marketplace Minute. I'm Justin Ho. Stocks closed higher on Thursday. The Dow and the |
| 0:08.1 | S&P rose about 9.10 percent, and the NASDAQ gained 1.5%. |
| 0:13.0 | We were all slightly more productive in the first quarter of this year than we were in the previous quarter, |
| 0:18.0 | according to the Labor Department. |
| 0:19.0 | That's because worker output increased at a faster rate than the number of hours people worked. |
| 0:24.3 | That said, the increase in productivity was a lot smaller than in the previous quarter. |
| 0:28.8 | The same report found that hourly compensation rose 5%, while productivity only grew by 3 tenths percent. |
| 0:35.1 | That means the cost of producing goods went up. |
| 0:37.6 | If productivity stalls while compensation increases that could lead to inflation. And the value of U.S. imports fell 1.6% in March, |
| 0:46.0 | according to the Commerce Department. |
| 0:48.0 | Imports of vehicles and industrial supplies fell, |
| 0:51.0 | but imports of consumer goods increased. I'm Justin Ho with the Marketplace Minute. You're going to. |
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