The Bureau of Labour Statistics released an informative chart today showing the change in labour productivity for certain nonfarm industries in the U.S from 2001 through 2011. An industry’s labour productivity increases when it can produce more output with equal or fewer labour hours.
Unsurprisingly, the wireless telecommunications industry had the greatest growth in labour productivity in that period. Its increased its output by more than 15% while using fewer labour hours. Employment placement agencies, computer and motor vehicle manufacturers and air transportation firms all saw considerable growth in labour productivity as well.
On the opposite side, department stores and oil and gas extractors both saw their labour productivity fall during that timespan.
Check out the whole chart:
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