First drop in multifactor productivity since 1991
April 09, 2003
Multifactor productivity—measured as output per unit of combined labor and capital inputs—fell by 1.0 percent in the private nonfarm business sector in 2001. This was the first decrease since 1991.
The multifactor productivity decline in 2001 reflected a 0.1-percent decrease in output and a 1.0-percent increase in the combined inputs of capital and labor. Capital services grew by 4.1 percent, while labor input fell by 0.4 percent.
Multifactor productivity is designed to measure the joint influences on economic growth of technological change, efficiency improvements, returns to scale, reallocation of resources, and other factors. Multifactor productivity, therefore, differs from the labor productivity (output per hour) measures that are published quarterly by BLS since it requires information on capital services and other data that are not available on a quarterly basis.
These data are a product of the BLS Multifactor Productivity program. Data are subject to revision. Additional information is available in "Multifactor Productivity Trends, 2001," news release USDL 03-158.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, First drop in multifactor productivity since 1991 on the Internet at http://www.bls.gov/opub/ted/2003/apr/wk1/art03.htm (visited July 06, 2015).
Recent editions of Spotlight on Statistics
New estimates of personal taxes in Consumer Expenditure Survey
In 2013, the Consumer Expenditure Survey improved its personal tax data.
Trends in long-term unemployment
Long-term unemployment reached historically high levels following the recession of 2007–2009.
Housing: before, during, and after the Great Recession
looks at consumer expenditures on household items, employment in residential construction, prices for household items, and injuries in occupations involved in building and maintaining our homes.