Seventh annual rise in multifactor productivity
September 22, 2000
Multifactor productivity—measured as output per unit of combined labor and capital inputs—increased by 1.5 percent in the private nonfarm business sector in 1998. This was the seventh consecutive year of growth.
Output rose at its fastest rate since 1984, 5.2 percent. The growth of combined units of capital and labor inputs, 3.7 percent, was slower than in 1997, but faster than the average for the 1990s.
Labor input grew 2.7 percent in 1998; most of this growth was due to increased employment.
Capital services continued to accelerate, jumping 5.6 percent, the largest gain since 1974. The fastest growing components of capital services were equipment and inventories. Equipment posted its steepest gain since 1980.
These data are a product of the BLS Multifactor Productivity program. Data are subject to revision. Additional information is available in "Multifactor Productivity Trends, 1998" news release USDL 00-267.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Seventh annual rise in multifactor productivity on the Internet at http://www.bls.gov/opub/ted/2000/sept/wk3/art05.htm (visited August 26, 2016).
Recent editions of Spotlight on Statistics
A look at healthcare spending, employment, pay, benefits, and prices
As one of the largest U.S. industries, healthcare is steadily growing to meet the needs of an increasing population with an increasing life expectancy. This Spotlight looks at how much people spend on healthcare, current and projected employment in the industry, employer-provided healthcare benefits, healthcare prices, and pay for workers in healthcare occupations.
Employment and Wages in Healthcare Occupations
Healthcare occupations are a significant percentage of U.S. employment. Some of the largest and highest paying occupations are in healthcare. This Spotlight examines employment and wages for healthcare occupations.
Fifty years of looking at changes in peoples lives
Longitudinal surveys help us understand long-term changes, such as how events that happened when a person was in high school affect labor market success as an adult.