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IWS Documented News Service
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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
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MULTIFACTOR PRODUCTIVITY TRENDS - 2009 [30 March 2011]

http://www.bls.gov/news.release/prod3.nr0.htm

or

http://www.bls.gov/news.release/pdf/prod3.pdf

[full-text, 15 pages]

Private nonfarm business sector multifactor productivity grew at a modest 0.1

percent annual rate in 2009, the U.S. Bureau of Labor Statistics reported

today. (See chart 1, table A.)  In 2009, the gain in multifactor productivity

reflected decreases of 3.7 percent in output and 3.8 percent in the combined

inputs of capital and labor.  Capital services grew by 1.1 percent, and labor

input which is the combined effect of hours worked and labor composition

– fell 6.3 percent. (See table A, table 1.)  For both the private nonfarm

business and private business sectors, the declines recorded in output,

combined inputs of capital and labor, and labor input were the largest in the

series, which began in 1987.  Growth in capital services was also the slowest

recorded since the series began.

Multifactor productivity measures the change in output per unit of combined

capital and labor.  Multifactor productivity is designed to measure the joint

influences of technological change, efficiency improvements, returns to scale,

reallocation of resources, and other factors on economic growth, 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.  Additionally,

multifactor productivity measures for the private business and private nonfarm

business sectors account for shifts in the composition of labor.  Estimates of

labor composition are not included in the quarterly labor productivity

measures.

Private business sector multifactor productivity grew 0.2 percent in 2009,

reversing a decline of 0.9 percent in 2008.  The multifactor productivity

gain in 2009 reflected decreases of 3.6 percent in output and 3.8 percent in

the combined inputs of capital and labor.  Capital services grew by 1.0

percent, and labor input fell by 6.3 percent. (See table A, table 2.)  

AND MUCH MORE...including TABLES....

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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.

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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                  
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