Comparing the labor cost of Nonfinancial Corporate Business (NCB) to NCB profits since 2018. The vertical gray bar during 2020 shows the
recession we had during the covid-19 shutdown:
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| Graph #1: | xxx |
The
values are "indexed" so that labor costs and profits both start at the
100 level in 2018. When they start out the same, it is easy to see how they vary as time goes by.
Before the covid recession, profit (red) varies more than labor cost (blue), but they do run more or less together. After the covid recession profit goes high, and since that time profit has been running about 25% higher than before.
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