Productivity of labor, capital rise again in 1997

February 25, 1999

Multifactor productivity in the private business sector—the change in output that cannot be accounted for by the change in combined inputs of labor and capital—increased for the sixth consecutive year in 1997. Multifactor productivity rose 0.7 percent, after a 1.7-percent gain in 1996.

Multifactor productivity changes, private business sector, 1989-97
[Chart data—TXT]

The overall productivity gain in 1997 reflected a 4.7 percent increase in output and a 3.9 percent increase in the combined inputs of capital and labor. Labor productivity (output per hour worked) grew 1.5 percent in 1997. Capital productivity (output per unit of capital services) grew 0.3 percent.

These data are a product of the Multifactor Productivity program. Additional information is available from news release USDL 99-36, "Multifactor Productivity Trends, 1997."
SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Editor's Desk, Productivity of labor, capital rise again in 1997 on the Internet at http://www.bls.gov/opub/ted/1999/feb/wk4/art04.htm (visited August 27, 2014).

OF INTEREST

Spotlight on Statistics: Productivity

This edition of Spotlight on Statistics examines labor productivity trends from 2000 through 2010 for selected industries and sectors within the nonfarm business sector of the U.S. economy.  Read more »