Productivity and Costs By Rupa Kaur And Cristina Ontiveros.

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Presentation transcript:

Productivity and Costs By Rupa Kaur And Cristina Ontiveros

Productivity and Costs Published by: Bureau of Labor and Statistics Frequency: quarterly Period Covered: prior quarter Volatility: moderate Market significance: moderate Web site:

What is it? Measures the efficiency of workers and the costs associated with producing a unit of output. Productivity specifically relates output to the amount of production time required in producing each unit. The cost factors of the report are unit labor costs and compensation per hour.

What is it in the report? Quarterly labor productivity measures are available for:  Business and non-farm business sectors  Manufacturing sector (total, durable, and nondurable)  Non-financial corporations sector

Why is it important? Economic indicator. Aid economic policymakers in assessment of current economic activity and in economic analysis. Aid Bureau of Economic Analysis in compiling compensation measures for National Income and Product Accounts. Assessment of labor requirements. Studies of relationships among productivity, wages, prices, and employment. Aid in understanding sources of economic growth.

Keys to Interpreting the Data Data is available in quarterly and annual indexes and % changes. Productivity: Output per hours depends on:  Capital investment  Technology  Capacity utilization  Managerial skills Costs: Indicate inflation.

Latest Release Business and Non-farm Business Sector  Business sector for fourth quarter was 1.0 and annual average for 2005 – 2006 was 1.7  Non-farm business sector for fourth quarter was 1.6 and annual average for 2005 – 2006 was 1.6

Latest Release Manufacturing Sector: productivity increase for year 2006, quarter four.  Total 2.2  Durable 3.4  Non Durable 0.8 Annual Averages 2005 – 2006  Total 4.0  Durable 6.2  Non Durable 1.7

Historical Data Business Sector Unit Labor Costs YearQtr1Qtr2Qtr3Qtr4Annual

Historical Data Non-Farm Business Sector Unit Labor Costs YearQtr1Qtr2Qtr3Qtr4Annual

Historical Data Manufacturing Sector Unit Labor Costs YearQtr1Qtr2Qtr3Qtr4Annual

Historical Data Non-Financial Corporate Sector Unit Labor Costs YearQtr1Qtr2Qtr3Qtr4Annual

Data Analysis Conclusion:  The manufacturing sector is distinct from the other sectors  The year 2000 had a huge effect on the market  Productivity and Costs are not always in correlation.

THANK YOU!