Multifactor productivity in nonfarm business, 2006
March 28, 2008
In the private nonfarm business sector, multifactor productivity--output per combined units of labor and capital inputs--rose 0.4 percent in 2006. This was the slowest rate of growth since 2001.
Output increased 3.2 percent in 2006, and the combined inputs of capital and labor increased 2.8 percent.
Labor input grew 2.7 percent in 2006, compared to 1.8 percent in 2005. Capital services increased 2.8 percent in 2006, compared to 2.6 percent in the previous year.
Multifactor productivity is designed to measure the joint influences of economic growth on technological change, efficiency improvements, returns to scale, reallocation of resources, and other factors, allowing for the effects of capital and labor.
These data are from the Multifactor Productivity program. Productivity data are subject to revision. To learn more, see "Multifactor Productivity Trends, 2006" (PDF) (HTML), news release USDL 08-0410.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Multifactor productivity in nonfarm business, 2006 on the Internet at http://www.bls.gov/opub/ted/2008/mar/wk4/art05.htm (visited October 23, 2014).
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