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Productivity
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Revisions to Total Factor Productivity — 2022
On November 21, 2023, the U.S. Bureau of Labor Statistics (BLS) revised data published in TOTAL FACTOR PRODUCTIVITY — 2022, released on March 23, 2023. The revisions are a result of updated source data including the Bureau of Economic Analysis National Income and Product Accounts (NIPA) Comprehensive Update and updated hours measures from the Labor Productivity and Cost release on November 2, 2023.
All industry series have been updated to reflect industry definitions consistent with the 2017 North American Industry Classification System (NAICS). All indexes are rebased to 2017=100 to reflect the new definitions.
You can find a summary of the revision in the table below and updated data in our online tables.
| Measure | Revised | Previously published |
|---|---|---|
|
Total factor productivity |
-1.6 | -1.2 |
|
Output |
1.9 | 2.2 |
|
Combined inputs |
3.6 | 3.5 |
|
Capital input |
2.8 | 3.0 |
|
Labor input |
4.1 | 3.9 |
|
Hours worked |
3.9 | 3.9 |
|
Labor composition |
0.2 |
0.1 |
Date last modified: November 21, 2023