Multifactor productivity in nonfarm business, 2007
March 26, 2009
In the private nonfarm business sector, multifactor productivity—output per combined units of labor and capital inputs—rose 0.2 percent in 2007, the slowest rate of growth since 1995.
Labor input in 2007 grew less than half of the previous year, 1.2 percent, compared to 2.6 percent recorded in 2006. Capital services grew 2.9 percent, the same as in 2006.
Within capital services, equipment was the fastest growing component. The increase in equipment in 2007 was largely due to capital services of information processing equipment and software, which rose by 7.4 percent. As in previous years, the fastest growth in equipment was in computers and related equipment, which grew 17.3 percent.
Multifactor productivity is designed to measure the joint influences of economic growth on technological change, efficiency improvements, returns to scale, reallocation of resources, and other factors, allowing for the effects of capital and labor.
These data are from the Multifactor Productivity program. Productivity data are subject to revision. To learn more, see "Multifactor Productivity Trends, 2007" (PDF) (HTML), news release USDL 09-0302.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Multifactor productivity in nonfarm business, 2007 on the Internet at http://www.bls.gov/opub/ted/2009/mar/wk4/art04.htm (visited September 28, 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.