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The Office of Productivity and Technology (OPT) measures labor productivity and total factor productivity. Productivity is a measure of economic performance that compares the amount of goods and services produced (output) to the amount of inputs used to produce those goods and services. Labor productivity uses the number of hours worked as it’s input. Total factor productivity (TFP), also known as multifactor productivity (MFP), uses combined inputs that include labor, capital, energy, materials, and purchased services.
Labor productivity (output per hour)
+1.7%(r) in 4th Qtr of 2022
Hourly compensation
+4.9%(r) in 4th Qtr of 2022
Unit labor costs
+3.2%(r) in 4th Qtr of 2022
Labor productivity (output per hour)
-2.7%(r) in 4th Qtr of 2022
Hourly compensation
+4.8%(r) in 4th Qtr of 2022
Unit labor costs
+7.7%(r) in 4th Qtr of 2022
09/01/2020
//ECOPRO ZUNI3PO Test 11/2/2020// Employment is projected to grow 10.8 percent from 2012 to 2022, adding 15.6 million jobs.
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