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Article: Multifactor productivity rose in 1999.(Department of Labor report on economic growth)(Brief Article)(Statistical Data Included)
- Article from:
- Monthly Labor Review
- Article date:
- May 1, 2001
CopyrightCOPYRIGHT 2001 U.S. Bureau of Labor Statistics. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Multifactor productivity--measured as output per unit of combined labor and capital inputs--rose 0.6 percent in the private nonfarm business sector in 1999. This was the eighth consecutive year of growth, but the lowest increase since 1995.
The multifactor productivity gain in 1999 reflected a 4.7-percent increase in output and a 4.1-percent increase in the combined inputs of capital and labor. In 1999, capital services grew 6.6 percent, while labor input grew 2.9 percent. Capital services showed the steepest gain since the series started in 1948.
Multifactor productivity is a measure of the joint influences on economic growth of technological change, ...