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Michael A. Gayed: Workers received 53% of business output, lowest share since 1947

Michael A. Gayed: Workers received 53% of business output, lowest share since 1947
Workers share of output hits record low

Workers retained 53.0% of business output last quarter, the lowest share since 1947, according to data reported by the Bureau of Labor Statistics.

Productivity rose by 3.6% during the period while hourly pay increased 2.9%, causing unit labor costs to decline. Michael A. Gayed highlighted these trends.

Gayed has recently pointed to other market signals. He noted that high yield credit spreads reached 343 basis points as of November 2. In a separate note, he observed that PSEC was yielding 21% while trading at a 65% discount to NAV.

This material may contain third-party opinions, none of the data and information on this webpage constitutes investment advice according to our Disclaimer. While we adhere to strict Editorial Integrity, this post may contain references to products from our partners.

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