Wednesday, 21st March 2012

Multifactor Productivity Trends 2010

Source: Bureau of Labor Statistics

From the press release:

Private nonfarm business sector multifactor productivity increased at a 3.5 percent annual rate in 2010, the U.S. Bureau of Labor Statistics reported today. This was the largest increase recorded in the series, which began in 1987. The multifactor productivity gain in 2010 reflected a 4.0 percent increase in output and 0.5 percent increase in the combined inputs of capital and labor. Capital services grew by 0.4 percent, and labor input – which is the combined effect of hours worked and labor composition – grew 0.5 percent.

Multifactor productivity measures the change in output per unit of combined capital and labor input. It is designed to measure the joint influences of technological change, efficiency improvements, returns to scale, reallocation of resources, and other factors on economic growth, allowing for the effects of capital and labor.

+ Direct link to full report (HTML)

Category:

• Business and economics (DocuTicker)
• Labor (DocuTicker)

Source:

• Bureau of Labor Statistics

Views: 739

By Heather Negley

An Info Pro, librarian, entrepreneur, author, worldwide connector and book-lover, Heather Negley is recognized for her new ways of thinking about librarianship, research, social media and creativity. Heather is the founder of HelpALibrarian.com and Zing Information Services. She has most recently been an Information Research Specialist with the Congressional Research Service at the Library of Congress where she provided business research for members of Congress and their staffs. Heather also worked as a research reporter for U.S. News and World Report and as a technical advertising producer on the washingtonpost.com. She received her MS in Library and Information Science from Simmons College in Boston, MA.

Heather can be reached at heather.negley@freepint.com

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