August 28th, 2020
The key points from the video transcript are as follows:
- There is an increase in activity in the service sector, which is causing inflationary pressures.
- The ISM Services index came in at 55.1, indicating expansion in pricing.
- Employment and supplier deliveries have also increased.
- The supply chain has caught up, but prices remain elevated.
- Productivity struggled in 2022, with a 1.8% year-on-year drop in the fourth quarter.
- Retirements and job changes have affected productivity.
- Job openings are still elevated, contributing to wage stickiness.
- Average credit card balances are high, with Gen X having the highest balance.
#servicesector #inflation #employment #productivity #supplychain #wages #creditcardbalances
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