Wednesday, April 7, 2010

U.S. Productivity

1. Employers would want to know this statistic so that they can gauge if they will need to hire more workers. Economists and policy makers would be interested in this statistic because it often has a negative correlation with employment. As productivity goes up, businesses often find that they can do the same amount of work with fewer employees.

2. This statistic is collected by the Bureau of Labor Statistics (BLS). It is collected quarterly by calculating factors such as payroll numbers and gross output.

3. U.S. Labor Productivity grew in Q4 2009 at a rate of 6.9%. This is compared to historical average of 3-4%.

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