|March 24, 2017 | www.fisherphillips.com|
The Bureau of Labor Statistics recently released its annual report on productivity and costs for the retail trade industry, and there’s good news and bad news for retailers. The good news is that, for 2014, productivity in the retail trade was up 1.9% overall. The bad news is that compensation rose by a higher percentage than productivity over the same time period, leading to increased labor costs. Simply put, while retail employees are doing more in the time they work, that increase in productivity comes with a cost.