Thursday, May 24, 2007
Tweet[IWS] BLS: PRELIMINARY MULTIFACTOR PRODUCTIVITY TRENDS, 2006 [24 May 2007]
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, 2006 [24 May 2007]
http://www.bls.gov/news.release/prod3.nr0.htm
or
http://www.bls.gov/news.release/pdf/prod3.pdf
[full-text, 6 pages]
and
Supplemental Files Table of Contents
http://www.bls.gov/web/prod3.supp.toc.htm
Private Business Sector and Private Nonfarm Business Sector
The Bureau of Labor Statistics (BLS) of the U.S. Department of Labor reported
today the change in preliminary multifactor productivity in 2006 for the
private business and private nonfarm business sectors. The estimated annual
rate of multifactor productivity change from 2005 to 2006 was:
2005-06
Private business sector 1.1
Private nonfarm business sector 1.0
The estimates of multifactor productivity in the private business and in the
private nonfarm business sectors for 2006 both show the slowest annual rates
of growth since 2001. The 2005-06 annual changes are summarized in tables A
and B, table B also presents data showing historical trends.
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 measures differ from labor
productivity (output per hour worked) measures that are published quarterly by
BLS since they include information on capital services and other data that are
not available on a quarterly basis.
A change in multifactor productivity reflects the difference between the change
in real gross domestic product for the sector and the change in labor and
capital inputs engaged in the production of this output. The output measures
for the private business and private nonfarm business sectors contained in this
release are similar to the indexes of output for business and nonfarm business
used in the quarterly labor productivity measures but the output of government
enterprises is omitted. Conceptually, change in multifactor productivity
reflects the change in output that cannot be accounted for by the change in
combined inputs of labor and capital. In contrast, a change in labor
productivity reflects the change in output that cannot be accounted for by the
change in hours of all persons engaged in production.
AND MUCH MORE...including TABLES....
______________________________
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, 2006 [24 May 2007]
http://www.bls.gov/news.release/prod3.nr0.htm
or
http://www.bls.gov/news.release/pdf/prod3.pdf
[full-text, 6 pages]
and
Supplemental Files Table of Contents
http://www.bls.gov/web/prod3.supp.toc.htm
Private Business Sector and Private Nonfarm Business Sector
The Bureau of Labor Statistics (BLS) of the U.S. Department of Labor reported
today the change in preliminary multifactor productivity in 2006 for the
private business and private nonfarm business sectors. The estimated annual
rate of multifactor productivity change from 2005 to 2006 was:
2005-06
Private business sector 1.1
Private nonfarm business sector 1.0
The estimates of multifactor productivity in the private business and in the
private nonfarm business sectors for 2006 both show the slowest annual rates
of growth since 2001. The 2005-06 annual changes are summarized in tables A
and B, table B also presents data showing historical trends.
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 measures differ from labor
productivity (output per hour worked) measures that are published quarterly by
BLS since they include information on capital services and other data that are
not available on a quarterly basis.
A change in multifactor productivity reflects the difference between the change
in real gross domestic product for the sector and the change in labor and
capital inputs engaged in the production of this output. The output measures
for the private business and private nonfarm business sectors contained in this
release are similar to the indexes of output for business and nonfarm business
used in the quarterly labor productivity measures but the output of government
enterprises is omitted. Conceptually, change in multifactor productivity
reflects the change in output that cannot be accounted for by the change in
combined inputs of labor and capital. In contrast, a change in labor
productivity reflects the change in output that cannot be accounted for by the
change in hours of all persons engaged in production.
AND MUCH MORE...including TABLES....
______________________________
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 : 11:05 AM
