JUSA - 4 New Labor Day Realities In The Covid-Era Workplace

• In the most recent Labor Department release, nonfarm business sector labor productivity increased 2.3% in the second quarter of 2021, as output increased 7.9% and hours worked grew 5.5%.
• U.S. corporate profits hit a record high last quarter, despite supply chain disruptions, a labor shortage and new COVID challenges. Profits from current production grew $234.5 billion to a record $2.8 trillion, a 9.2% quarterly rise after rising 5.1% in the first quarter.
• Nearly all states with Republican governors stopped the $300 unemployment bonus by June 30 and did not impose excessive lockdowns during the pandemic. Republican-run states also tend to have lower taxes and better-run state finances. Thus, more people are moving out of high-tax states to live in lower-tax states, as are many businesses.

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