Editor's note: A special thank you to Westwood Capital's Dan Alpert for letting Hedgeye run what follows below. Make sure to click on the link which takes you to his must-read, data deck presentation, "No Economy is an Island," challenging the current U.S. economic decoupling meme.
Further to the data deck I released on Tuesday, I have done some additional work on the below series illustrating one big reason why U.S. labor productivity is slumping and unit labor costs have been rising somewhat. It is NOT an innovation thing, nor a labor supply mismatch thing…see below:
Click image to enlarge.
***On a related note, here's Dan's recent Real Conversations interview "A Dire Appraisal of Our ‘Broken Global Economy’" hosted by Hedgeye CEO Keith McCullough. Click below to watch.