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JPMorgan on the US: 'Productivity growth returning to pre-COVID levels'
May 8, 2025 10:02 AM EDTJPMorgan on the US: 'Productivity growth returning to pre-COVID levels'
The analyst comments "Nonfarm business productivity fell 0.8%q/q saar in 1Q, and with compensation per hour still up a robust 4.8%, unit labor costs consequently surged 5.7%. The contraction in productivity, the first in close to three years, is the key reason that 1Q GDP was so weak (-0.3%) despite hours worked in nonfarm businesses having grown 0.6%,... More
