June 30, 2010

History of Labor Productivity

The BLS tracks labor productivity on a quarterly and annual basis.   The figures they give are the % change in productivity from one time period to the next.   

Below is a graph showing the change in productivity on an annual basis from 1949 to 2009:



As you can see productivity goes up the great majority of years and only a few years does productivity actually go down.   Less than one in 10 years are negative.

Long term from 1949 to 2009 the average increase is 2.3% and median is 2.4%.   The worst year was 1974 when a drop of -1.6% and the best year was 1950 with an increase of 6.7%.   Looking at the most recent 20 years from 1990 to 2009 the average is 2.4%, the median 2.3%, the worst year was 0.4% in 1995 and the best was 4.6% in 2002.

No comments:

Post a Comment

I'm starting to get too many spam messages in the comments so I'm turning on moderation. Please be patient and wait for your comment to be approved. Note it may take up to a few days for approval, thanks.

Blog Widget by LinkWithin