Multifactor productivity in nonfarm business, 2007
March 26, 2009
In the private nonfarm business sector, multifactor productivity—output per combined units of labor and capital inputs—rose 0.2 percent in 2007, the slowest rate of growth since 1995.
Labor input in 2007 grew less than half of the previous year, 1.2 percent, compared to 2.6 percent recorded in 2006. Capital services grew 2.9 percent, the same as in 2006.
Within capital services, equipment was the fastest growing component. The increase in equipment in 2007 was largely due to capital services of information processing equipment and software, which rose by 7.4 percent. As in previous years, the fastest growth in equipment was in computers and related equipment, which grew 17.3 percent.
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, 2007" (PDF) (HTML), news release USDL 09-0302.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Multifactor productivity in nonfarm business, 2007 on the Internet at http://www.bls.gov/opub/ted/2009/mar/wk4/art04.htm (visited May 30, 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.