U.S. Worker Productivity Measure

A U.S. Worker Productivity Measure is a worker productivity measure for a U.S. labor market.

• Context:
  • It can be associated with a U.S. Worker Productivity Growth Rate.
  • ...
• Example(s):
  • 1.6% annual growth rate in U.S. nonfarm business sector labor productivity.
  • ...
  • …
• Counter-Example(s):
  • Chinese Labor Productivity, ...
  • U.S. Worker Output per Hour, U.S. Hours Worked Measure.
  • U.S. Total Factor Productivity.
• See: U.S. Industrial Robot Population.

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References

• https://www.google.com/search?q=U.S.+Worker+Productivity+Measure&tbm=isch
• http://www.bls.gov/lpc/
• http://www.google.com/publicdata/explore?ds=z6409butolt8la_&ctype=l&met_y=gci_7.06&dl=en#!ctype=l&strail=false&bcs=d&nselm=h&met_y=gci_7.06&scale_y=lin&ind_y=false&rdim=world&idim=country:USA&idim=world:WLD&ifdim=world_US&dl=en&ind=false

2015

• http://www.bls.gov/bls/productivity.htm
  • QUOTE: Productivity and related cost measures are designed for use in economic analysis and public and private policy planning. The data are used to forecast and analyze changes in prices, wages, and technology. There are two primary types of productivity statistics:
    • Labor productivity measures output per hour of labor.
    • Multifactor productivity measures output per unit of combined inputs, which consist of labor and capital, and, in some cases, intermediate inputs such as fuel.
  • Labor Productivity:
    Data on output per hour and unit labor costs are available for the U.S. business sector, the nonfarm business sector, and the manufacturing sector. These are the productivity statistics most often cited in the news. In addition, output per hour and unit labor costs are available for over 400 selected industries in manufacturing, mining, utilities, wholesale and retail trade, and services.

2015b

• http://www.bls.gov/news.release/prod2.nr0.htm
  • QUOTE: Nonfarm business sector labor productivity increased at a 1.6-percent annual rate during the third quarter of 2015, the U.S. Bureau of Labor Statistics reported today, as output increased 1.2 percent and hours worked decreased 0.5 percent. ...

    ... Labor productivity, or output per hour, is calculated by dividing an index of real output by an index of hours worked of all persons, including employees, proprietors, and unpaid family workers.

     Unit labor costs in the nonfarm business sector increased 1.4 percent in the third quarter of 2015, reflecting a 3.0-percent increase in hourly compensation and a 1.6-percent increase in productivity.

     Unit labor costs increased 2.0 percent over the last four quarters. (See tables A and 2.) BLS calculates unit labor costs as the ratio of hourly compensation to labor productivity. Increases in]]hourly compensation]] tend to increase unit labor costs, and increases in output per hour tend to reduce them.

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