Thursday, August 31, 2006
Tweet[IWS] BLS: PRELIMINARY MULTIFACTOR PRODUCTIVITY TRENDS, 2005 [29 August 2006]
IWS Documented News Service
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
PRELIMINARY MULTIFACTOR PRODUCTIVITY TRENDS, 2005 [29 August 2006]
http://www.bls.gov/news.release/prod3.nr0.htm
or
http://www.bls.gov/news.release/pdf/prod3.pdf
[full-text, 5 pages]
and
Supplemental Files Table of Contents
http://www.bls.gov/web/prod3.supp.toc.htm
Private Business Sector
The Bureau of Labor Statistics of the U.S. Department of Labor reported today
the preliminary multifactor productivity data, output per combined units of
labor and capital inputs, for 2005 for the private business sector. The
estimated annual rate of multifactor productivity change from 2004 to 2005 was
an increase of 1.8 percent.
The estimate of multifactor productivity in the private business sector for
2005 shows a slower rate of growth than the past two years. The 2004-5 annual
changes are summarized in tables A and B.
Multifactor productivity growth 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. Multifactor productivity, therefore, differs from labor
productivity (output per hour worked) measures that are published quarterly by
BLS since it includes information on capital services and other data that are
not available on a quarterly basis.
In the private business sector, the change in multifactor productivity reflects
the difference between the change in real gross domestic product for the
private business sector and the change in labor and capital inputs engaged in
the production of this output. The output measures for the private business
sector are similar to the indexes of output for business used in the quarterly
labor productivity measures but the output of government enterprises is
omitted. Government enterprises are agencies that maintain separate accounts
and that cover a substantial portion of their operating costs by selling goods
and services to the public.
Beginning with this release, BLS will issue annually in news release format
preliminary multifactor productivity measures for the prior calendar year.
The methodology for producing these preliminary estimates is discussed in
"Preliminary estimates of multifactor productivity growth", published in the
June, 2005 Monthly Labor Review, available at
http://www.bls.gov/opub/mlr/2005/06/art3abs.htm. The Bureau intends to
issue more comprehensive data containing updated inputs and using a more
thorough methodology for each calendar year at a later date; for instance,
data for 2005 are expected to be available in early 2007.
AND MUCH MORE....
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
_______________________________
Institute for Workplace Studies----------------- Professor Samuel B. Bacharach
School of Industrial & Labor Relations-------- Director, Institute for Workplace Studies
Cornell University
16 East 34th Street, 4th floor---------------------- Stuart Basefsky
New York, NY 10016 -------------------------------Director, IWS News Bureau
________________________________________________________________________
PRELIMINARY MULTIFACTOR PRODUCTIVITY TRENDS, 2005 [29 August 2006]
http://www.bls.gov/news.release/prod3.nr0.htm
or
http://www.bls.gov/news.release/pdf/prod3.pdf
[full-text, 5 pages]
and
Supplemental Files Table of Contents
http://www.bls.gov/web/prod3.supp.toc.htm
Private Business Sector
The Bureau of Labor Statistics of the U.S. Department of Labor reported today
the preliminary multifactor productivity data, output per combined units of
labor and capital inputs, for 2005 for the private business sector. The
estimated annual rate of multifactor productivity change from 2004 to 2005 was
an increase of 1.8 percent.
The estimate of multifactor productivity in the private business sector for
2005 shows a slower rate of growth than the past two years. The 2004-5 annual
changes are summarized in tables A and B.
Multifactor productivity growth 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. Multifactor productivity, therefore, differs from labor
productivity (output per hour worked) measures that are published quarterly by
BLS since it includes information on capital services and other data that are
not available on a quarterly basis.
In the private business sector, the change in multifactor productivity reflects
the difference between the change in real gross domestic product for the
private business sector and the change in labor and capital inputs engaged in
the production of this output. The output measures for the private business
sector are similar to the indexes of output for business used in the quarterly
labor productivity measures but the output of government enterprises is
omitted. Government enterprises are agencies that maintain separate accounts
and that cover a substantial portion of their operating costs by selling goods
and services to the public.
Beginning with this release, BLS will issue annually in news release format
preliminary multifactor productivity measures for the prior calendar year.
The methodology for producing these preliminary estimates is discussed in
"Preliminary estimates of multifactor productivity growth", published in the
June, 2005 Monthly Labor Review, available at
http://www.bls.gov/opub/mlr/2005/06/art3abs.htm. The Bureau intends to
issue more comprehensive data containing updated inputs and using a more
thorough methodology for each calendar year at a later date; for instance,
data for 2005 are expected to be available in early 2007.
AND MUCH MORE....
______________________________
This information is provided to subscribers, friends, faculty, students and alumni of the School of Industrial & Labor Relations (ILR). It is a service of the Institute for Workplace Studies (IWS) in New York City. Stuart Basefsky is responsible for the selection of the contents which is intended to keep researchers, companies, workers, and governments aware of the latest information related to ILR disciplines as it becomes available for the purposes of research, understanding and debate. The content does not reflect the opinions or positions of Cornell University, the School of Industrial & Labor Relations, or that of Mr. Basefsky and should not be construed as such. The service is unique in that it provides the original source documentation, via links, behind the news and research of the day. Use of the information provided is unrestricted. However, it is requested that users acknowledge that the information was found via the IWS Documented News Service.
Stuart Basefsky
Director, IWS News Bureau
Institute for Workplace Studies
Cornell/ILR School
16 E. 34th Street, 4th Floor
New York, NY 10016
Telephone: (607) 255-2703
Fax: (607) 255-9641
E-mail: smb6@cornell.edu
****************************************
# posted by SBasefsky : 10:04 AM
