Charting multifactor productivity over the past decade
In the private business sector, multifactor productivity — output per combined units of labor and capital inputs — grew at an annual rate of 1.1 percent in 2006, the U.S. Department of Labor's Bureau of Labor Statistics reported.
The multifactor productivity gain in 2006 reflected a 3.8 percent increase in output and a 2.7 percent increase in the combined inputs of capital and labor.
Capital services grew 3.0 percent. Labor input posted an increase of 2.6 percent, as both hours worked and labor composition rose. The capital-labor ratio (capital services per hour of all persons) increased by 0.9 percent.