Table A. Productivity, output, and inputs in the private nonfarm business and private business sectors for selected periods, 1987-2024

 
 Table A. Productivity, output, and inputs in the private nonfarm business and private business sectors for selected periods, 1987-2024  
 
Average annual growth rates
1987-2024
1990-2000
2000-07
2007-19
2019-24
2023
2024
 
Private nonfarm business
Productivity
Total factor productivity
0.8
0.9
1.3
0.6
0.9
1.4
1.3
Labor productivity
2.0
2.2
2.7
1.5
2.1
2.0
2.7
Capital productivity
-0.5
-0.7
-0.7
-0.3
-0.1
0.4
0.0
Output
2.9
4.0
2.8
2.1
2.6
3.1
2.9
Combined inputs
2.1
3.1
1.5
1.6
1.7
1.7
1.6
Labor input
1.4
2.2
0.5
1.1
1.0
1.0
0.7
Hours worked
0.9
1.7
0.1
0.6
0.5
1.0
0.2
Labor composition
0.5
0.5
0.4
0.5
0.5
0.0
0.5
Capital input
3.4
4.7
3.5
2.4
2.7
2.7
2.9
Analytic Ratio
Capital intensity
2.5
2.9
3.4
1.8
2.2
1.7
2.7
Private business
Productivity
Total factor productivity
0.9
1.0
1.3
0.6
1.0
1.4
1.3
Labor productivity
2.0
2.3
2.7
1.5
2.1
2.1
2.8
Capital productivity
-0.4
-0.5
-0.6
-0.2
-0.1
0.5
0.0
Output
2.9
4.0
2.8
2.1
2.6
3.1
2.9
Combined inputs
2.0
3.0
1.5
1.6
1.7
1.7
1.6
Labor input
1.3
2.2
0.5
1.1
1.0
1.0
0.7
Hours worked
0.9
1.7
0.1
0.6
0.5
1.0
0.2
Labor composition
0.5
0.5
0.4
0.5
0.5
0.0
0.5
Capital input
3.3
4.5
3.4
2.4
2.7
2.6
2.9
Analytic Ratio
Capital intensity
2.4
2.8
3.4
1.8
2.2
1.6
2.8
Note: Real capital input by asset type is not available for the most recent reference year. For a brief discussion of methods used in preparing these data see the Technical Notes in this release.