Manufacturing multifactor productivity in 2002, 2003, and 2004
December 07, 2006
In the manufacturing sector, multifactor productivity grew just slightly faster in 2003 than in 2002, and fell in 2004.
Multifactor productivity in manufacturing rose 3.9 percent in 2002. Until the slightly larger increase in 2003, this had been the largest rate of increase in the time series, which goes back to 1987. The multifactor productivity gain in 2002 reflected a decline in sectoral output and a decline in combined inputs.
Multifactor productivity in manufacturing grew at an annual rate of 4.0 percent in 2003. Combined inputs declined, but this decline was offset by an increase in sectoral output, the first increase in three years.
Multifactor productivity in manufacturing fell 1.0 percent in 2004, the steepest decline since 2001. The decline was the result of an increase in sectoral output that was more than offset by an increase in combined inputs.
These data are from the Multifactor Productivity program. Productivity data are subject to revision. To learn more, see "Multifactor Productivity Trends In Manufacturing, 2002, 2003 and 2004," news release USDL 06-2040. Multifactor productivity measures 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.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Manufacturing multifactor productivity in 2002, 2003, and 2004 on the Internet at http://www.bls.gov/opub/ted/2006/dec/wk1/art04.htm (visited September 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.