2000 saw largest increase in multifactor productivity since 1992
March 13, 2002
Multifactor productivity—measured as output per unit of combined labor and capital inputs—rose by 1.8 percent in the private nonfarm business sector in 2000. This was the ninth consecutive year of growth, and the highest increase since 1992.
The multifactor productivity gain in 2000 reflected a 4.5-percent increase in output and a 2.7-percent increase in the combined inputs of capital and labor. Capital services grew by 6.1 percent, while labor input grew by 1.1 percent.
Multifactor productivity is designed to measure the joint influences on economic growth of technological change, efficiency improvements, returns to scale, reallocation of resources, and other factors. Multifactor productivity, therefore, differs from the labor productivity (output per hour) measures that are published quarterly by BLS since it requires information on capital services and other data that are not available on a quarterly basis.
These data are a product of the BLS Multifactor Productivity program. Data are subject to revision. Additional information is available in "Multifactor Productivity Trends, 2000" news release USDL 02-128.
Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, 2000 saw largest increase in multifactor productivity since 1992 on the Internet at https://www.bls.gov/opub/ted/2002/mar/wk2/art03.htm (visited January 21, 2017).
Recent editions of Spotlight on Statistics
Workplace injuries and illnesses and employer costs for workers’ compensation
Workplace injury and illness data and the costs to employers for workers’ compensation in natural resources, construction, and maintenance occupations.
A look at the future of the U.S. labor force to 2060
Projected long-term trends in the growth, size, and composition of the labor force.
Union membership in the United States
Historical trends in union membership among employed wage and salary workers; union membership by a variety of demographic characteristics.
A look at healthcare spending, employment, pay, benefits, and prices
Spending on healthcare, current and projected employment in the industry, employer-provided healthcare benefits, healthcare prices, and pay for workers in healthcare occupations.
Self-employment in the United States
Trends in self-employment by various demographic and socioeconomic characteristics, including both the unincorporated and the incorporated self-employed, as well as data on paid employees who work for the self-employed.