Manufacturing multifactor productivity in 2005
June 08, 2007
Multifactor productivity in the manufacturing sector rose 3.4 percent in 2005.
This is the fourth consecutive year that multifactor productivity rose in manufacturing.
The multifactor productivity gain in 2005 reflected a 3.5-percent increase in sectoral output and a 0.1-percent increase in combined inputs, which, while modest, was the first increase since 1999. Capital services declined 0.3 percent in 2005, after having also declined in 2004. Hours declined 1.1 percent in 2005, materials rose 1.0 percent and purchased business services rose 1.3 percent.
These data are from the BLS Multifactor Productivity program. Productivity data are subject to revision. To learn more, see "Multifactor Productivity Trends in Manufacturing, 2005" (PDF) (TXT), news release USDL 07-0822. 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 2005 on the Internet at http://www.bls.gov/opub/ted/2007/jun/wk1/art05.htm (visited March 28, 2015).
Three recent editions of Spotlight on Statistics
Trends in long-term unemployment
Long-term unemployment reached historically high levels following the recession of 2007–2009.
Housing: before, during, and after the Great Recession
looks at consumer expenditures on household items, employment in residential construction, prices for household items, and injuries in occupations involved in building and maintaining our homes.
Women veterans in the labor force examines the demographic, employment, and unemployment characteristics of women veterans.