Worker productivity rises

Marketplace All-in-One

Marketplace

News, Business

4.5 • 1.4K Ratings

🗓️ 1 February 2024

⏱️ 1 minutes

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Summary

Stocks rise; worker output outpaces hours worked; manufacturers receive more new orders; unemployment claims rise.

Transcript

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0:00.0	This is the Marketplace Minute. I'm Justin Ho. Stocks closed higher on Thursday. The Dow
0:07.6	rose 1%, the S&P added 1 and a quarter percent, and the NASDAQ gained one and three-tenths percent.
0:15.1	Workers were more productive last year than they were the year before, according to the Labor
0:18.7	Department.
0:19.7	That's because their output increased at a faster rate than the amount of hours they worked.
0:24.2	The same report found that hourly compensation rose almost 2% from a year ago.
0:28.6	That's after accounting for inflation.
0:31.2	Manufacturers received more new orders in January than in December,
0:34.7	according to the Institute for Supply Management.
0:37.0	It says manufacturers' inventory shrank
0:39.6	that's a sign that production could pick up further
0:42.0	as more new orders come in.
0:44.5	The number of people signing up for unemployment benefits rose last week to 224,000.
0:49.5	That's according to the Labor Department.
0:51.1	The number of continuing claims rose to. I'm Justin Ho with the Marketplace
0:55.6	Minute. You're going to.

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