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Productivity
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Revisions to Total Factor Productivity — 2021
On November 18, 2022, the U.S. Bureau of Labor Statistics (BLS) revised data published in TOTAL FACTOR PRODUCTIVITY — 2021, released on March 24, 2022. The revisions are a result of updated source data including the 2021 GDP by Industry data from the Bureau of Economic Analysis and updated hours measures from the Labor Productivity and Cost release on November 3, 2022. Moreover, revisions to labor input, labor productivity, and TFP can also be contributed to the new method for estimating Labor Composition for Total Factor Productivity.