Bloomberg (08/08/12) Alex Kowalski
U.S. productivity rose at a 1.6% annual rate in the second quarter, the U.S. Department of Labor reported today, as output of goods and services rose much faster than the amount of time employees worked. Second-quarter productivity was projected to rise 1.4%, according to the median forecast of 59 economists surveyed by Bloomberg News. DOL said output rose 2.0% in the April-to-June period, while hours worked increased at a slower 0.4% rate. That was down sharply from a 3.2% gain in hours worked during the first quarter. Unit-labor costs, meanwhile, slowed to a 1.7% increase from 5.6% in the first quarter. Hourly wages, after factoring out inflation, rose 2.6% to match the first-quarter gain. The drop in productivity at the start of 2012, pared with a slowdown in profits, may be prompting companies to focus on enhancing efficiency to curb costs, making a pickup in employment more difficult to spur.
From Gibraltar: Exclusive Guide to Factoring for Staffing Companies
Whether your firm needs working capital to hire new talent, maximize a marketing opportunity, or extend client payment terms, factoring allows staffing companies to convert unpaid invoices into cash today. Download now to get answers to the top 10 questions related to accessing working capital via invoice financing.