Multifactor productivity, 1995-2004
March 24, 2006
In the private business sector, multifactor productivity—output per combined units of labor and capital inputs—grew at an annual rate of 2.9 percent in 2004.
In the previous year, private business sector multifactor productivity rose 2.8 percent. Multifactor productivity in the private business sector in 2003 and 2004 shows the fastest rate of growth in the current time series, which goes back to 1987.
In private business, the change in multifactor productivity reflects the difference between the change in real gross domestic product for the sector and the change in labor and capital inputs engaged in the production of this output. Multifactor productivity differs from the labor productivity (output per hour worked) measures that are published quarterly by BLS since it includes information on capital services and other data that are not available on a quarterly basis.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Multifactor productivity, 1995-2004 on the Internet at http://www.bls.gov/opub/ted/2006/mar/wk3/art05.htm (visited October 30, 2014).
Three recent editions of Spotlight on Statistics
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.
Women veterans in the labor force examines the demographic, employment, and unemployment characteristics of women veterans.
BLS Statistics by Occupation provides an overview of occupational employment and wages with an emphasis on STEM jobs and occupational data by typical entry-level education required.