U.S. Bureau of Labor Statistics (2024)

How is productivity calculated?

While it is possible to compute labor productivity levels, productivity analysis generally involves measuring productivity changes over time.

Percent changes, indexes and average annual percent changes can all indicate how much productivity has changed from one period to the next or over several periods.

Percent changes measure change from one period to the next.

Percent changes can be calculated using either productivity levels—stated in units or constant dollars per hour—or productivity indexes.

Indexes measure total percent changes from a base period.

Any time period can be used as the base period. Indexes are usually set equal to 100 in the base period.

A labor productivity index can be calculated by dividing an index of output by an index of hours worked. When more than one index is included in a calculation, all the indexes must have the same base period.

U.S. Bureau of Labor Statistics (1)

U.S. Bureau of Labor Statistics (2)

Average annual percent changes measure change over several periods stated at an average yearly rate.

Average annual percent changes can be calculated using either productivity levels—stated in units or constant dollars per hour—or productivity indexes.

U.S. Bureau of Labor Statistics (3)

The level of productivity is the ratio of output to inputs. (For labor productivity, the input is only labor, for other measures of productivity, the input is an index of combined inputs.)

The percent change in a ratio is approximately equal to the percent change in the numerator minus the percent change in the denominator.

U.S. Bureau of Labor Statistics (4) Click for example

U.S. Bureau of Labor Statistics (5)

U.S. Bureau of Labor Statistics (2024)

FAQs

Is US Bureau of Labor Statistics credible? ›

This government agency goes to great lengths to ensure the accuracy, impartiality, and accessibility of its reports and the statistics it produces are among the most influential economic indicators for the American economy.

Do I have to answer Bureau of Labor Statistics? ›

Yes. All employers who receive a survey form must respond to the survey, even those in State-Plan States. NOTE: Authority cited: Section 6410, Labor Code. Reference: Section 6410, Labor Code.

Is BLS survey legit? ›

The Bureau of Labor Statistics, its employees, agents, and partner statistical agencies, will use the information you provide for statistical purposes only and will hold the information in confidence to the full extent permitted by law.

Is the Bureau of Labor Statistics the main fact finding agency? ›

The Bureau of Labor Statistics (BLS) is an agency of the United States Department of Labor. It is the principal fact-finding agency in the broad field of labor economics and statistics and serves as part of the U.S. Federal Statistical System.

How accurate is the U.S. unemployment rate? ›

The unemployment rate isn't an accurate measure of joblessness simply because it doesn't consider everyone who doesn't have a job. That's why many economic experts instead focus on what's known as the real unemployment rate.

Where does BLS get its data? ›

U. S. Bureau of Labor Statistics (BLS) field economists are extensively trained and given detailed instructions on data collection techniques. They employ a variety of methods, including personal visits, mail, telephone, email, and video calls, to obtain data from Occupational Requirements Survey (ORS) respondents.

What does the Bureau of Labor Statistics track? ›

The Bureau of Labor Statistics measures labor market activity, working conditions, price changes, and productivity in the U.S. economy to support public and private decision making.

Who runs the Bureau of Labor Statistics? ›

Bureau of Labor Statistics
Agency overview
Employees2,100
Annual budget$655 million (2021)
Agency executivesErika McEntarfer, Commissioner William J. Wiatrowski, Deputy Commissioner
Websitewww.bls.gov
5 more rows

Who oversees the Bureau of Labor Statistics? ›

Erika McEntarfer. The Statistical Official for the Department of Labor is the Commissioner of Labor Statistics, who leads the Department's independent statistical agency, the Bureau of Labor Statistics (BLS).

How many people does the BLS survey? ›

It provides a comprehensive body of data on the labor force, employment, unemployment, persons not in the labor force, hours of work, earnings, and other demographic and labor force characteristics. The Current Population Survey (CPS) is a monthly sample survey of 60,000 households.

How do job seekers use the Bureau of Labor Statistics? ›

The U.S. Bureau of Labor Statistics (BLS) can help you explore occupations, glimpse job outlook, and find wage data for where you live or work. BLS information includes detail on the education, training, and experience typically required for hundreds of occupations.

Is BLS an independent agency? ›

BLS is an independent national statistical agency that collects, processes, analyzes, and disseminates essential statistical data to the American public, the U.S. Congress, other federal agencies, state and local governments, business, and labor. BLS also serves as a statistical resource to the Department of Labor.

Which type of data are not published by BLS? ›

BLS withholds the publication of UI-covered employment and wage data for any industry level when necessary to protect the identity of employers.

Who does the Bureau of Labor Statistics report to? ›

BLS Reports Directed by Congress and the Government Accountability Office.

Is the Bureau of Labor Statistics independent? ›

BLS is an independent national statistical agency that collects, processes, analyzes, and disseminates essential statistical data to the American public, the U.S. Congress, other federal agencies, state and local governments, business, and labor. BLS also serves as a statistical resource to the Department of Labor.

Who owns the US Bureau of Labor Statistics? ›

Image of Who owns the US Bureau of Labor Statistics?
The United States Department of Labor is one of the executive departments of the U.S. federal government. It is responsible for the administration of federal laws governing occupational safety and health, wage and hour standards, unemployment benefits, reemployment services, and occasionally, economic statistics.
Wikipedia

Top Articles
Latest Posts
Article information

Author: Gov. Deandrea McKenzie

Last Updated:

Views: 6492

Rating: 4.6 / 5 (66 voted)

Reviews: 89% of readers found this page helpful

Author information

Name: Gov. Deandrea McKenzie

Birthday: 2001-01-17

Address: Suite 769 2454 Marsha Coves, Debbieton, MS 95002

Phone: +813077629322

Job: Real-Estate Executive

Hobby: Archery, Metal detecting, Kitesurfing, Genealogy, Kitesurfing, Calligraphy, Roller skating

Introduction: My name is Gov. Deandrea McKenzie, I am a spotless, clean, glamorous, sparkling, adventurous, nice, brainy person who loves writing and wants to share my knowledge and understanding with you.