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Bureau of Labor Statistics

Assess Costs Everywhere: Today’s Cheap Labor May Be More Costly Tomorrow

The Department of Commerce recently introduced the Assess Costs Everywhere tool, which outlines the costs and risks firms need to weigh when considering location of manufacturing operations and supply chains. Labor is at the top of the list. Indeed, businesses cite labor costs as a top factor driving production-location decisions. While perceptions of less expensive labor abroad may have led some businesses to locate outside the U.S., some companies have found that expected savings from foreign labor have whittled away over time in numerous and unexpected ways.

Economic Indicator: Private Sector Employment up 257,000 in January 2012

Some good news on the employment front! The Bureau of Labor Statistics (BLS) released their January 2012 report on the employment situation showing private sector employment increased 257,000 -- the largest increase since April 2011 (264,000). In addition, private sector employment gains were revised upward by 58,000 in November and 8,000 in December. Over the past 23 months, the private sector has added jobs every month for a total of nearly 3.7 million jobs.

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