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Total factor productivity up 19.9 percent in mining in 2023
December 12, 2024
Total factor productivity increased in 12 major industries in 2023, led by the mining and retail trade industries. Increases in total factor productivity in 2023 were driven by output growth outpacing the growth in combined inputs of capital, labor, and the intermediate inputs of energy, materials, and services.
Total factor productivity, output, and combined inputs by industry, percent change, 2023
Industry
Total factor productivity
Output
Combined inputs
Mining
19.9
7.9
-10.0
Retail trade
6.2
3.9
-2.2
Agriculture, forestry, fishing, and hunting
3.1
1.8
-1.2
Utilities
2.8
2.3
-0.5
Information
2.5
4.0
1.5
Health care and social assistance
1.8
6.8
4.9
Transportation and warehousing
1.6
1.2
-0.4
Professional and technical services
1.5
3.5
2.0
Educational services
1.4
8.1
6.6
Real estate and rental and leasing
1.0
3.8
2.7
Arts, entertainment, and recreation
1.0
3.7
2.7
Management of companies
0.5
1.4
0.9
Administration and waste services
-0.3
-0.8
-0.5
Wholesale trade
-1.2
-4.0
-2.9
Finance and insurance
-1.6
2.6
4.2
Accommodation and food services
-1.8
3.1
5.0
Construction
-2.3
2.0
4.3
Manufacturing
-3.2
-1.0
2.3
Other services, except government
-3.3
3.3
6.9
In mining, total factor productivity increased 19.9 percent as output increased 7.9 percent and combined inputs decreased 10.0 percent. Total factor productivity in retail trade increased 6.2 percent, reflecting a 3.9-percent increase in output and a 2.2-percent decrease in combined inputs.
Output increased in 16 major industries in 2023. In the 4 industries with the highest growth in total factor productivity, output grew while combined inputs declined. Within these 4 industries (mining; retail trade; agriculture, forestry, fishing, and hunting; and utilities) intermediate inputs drove the combined inputs decline.
These data are from the Productivity program and are subject to revision. See "Total Factor Productivity for Major Industries — 2023" to learn more. Also see more charts on productivity and costs. Total factor productivity is defined as output per unit of combined inputs. Total factor productivity shows the relationship between changes in real output and changes in the combined inputs of capital, labor, and intermediate inputs (energy, materials, and services) used in production of final goods and services. It reflects economic growth that results from technological change, organizational change, and other efficiency improvements.
United States Department of Labor
