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Total factor productivity increased in 15 out of 21 major industries in 2021

December 02, 2022

Total factor productivity increased in 15 out of 21 major industries in 2021. The largest increase was in arts, entertainment, and recreation (15.1 percent). This was followed by increases in accommodation and food services (12.4 percent), management of companies (6.2 percent), and information (4.6 percent).

Percent change in total factor productivity, 2021
Industry Percent change

Arts, entertainment, and recreation

15.1%

Accommodation and food services

12.4

Management of companies

6.2

Information

4.6

Professional and technical services

4.2

Finance and insurance

4.0

Admin and waste services

3.9

Nondurable manufacturing

3.4

Manufacturing

3.3

Durable manufacturing

2.8

Educational services

1.9

Health care and social assistance

1.8

Wholesale trade

1.5

Real estate and rental and leasing

1.4

Other services, except government

0.9

Transportation and warehousing

0.0

Construction

-0.6

Retail trade

-0.6

Utilities

-1.7

Mining

-3.9

Agriculture, forestry, fishing, & hunting

-5.4

Among the 21 major industries, agriculture, forestry, fishing, and hunting had the largest decline in total factor productivity in 2021, at −5.4 percent. This was followed by mining, at −3.9 percent. Transportation and warehousing total factor productivity was unchanged over the year.

These numbers largely reverse the patterns seen in 2020, when total factor productivity declined in 16 of 21 major industries due to the COVID-19 pandemic.

These data are from the Productivity program. To learn more, see “Total Factor Productivity in Major Industries — 2021.” We also have more charts on total factor productivity.  Total factor productivity is defined as output per unit of combined inputs.

SUGGESTED CITATION

Bureau of Labor Statistics, U.S. Department of Labor, The Economics Daily, Total factor productivity increased in 15 out of 21 major industries in 2021 at https://www.bls.gov/opub/ted/2022/total-factor-productivity-increased-in-15-out-of-21-major-industries-in-2021.htm (visited February 05, 2023).

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