Figure B
Broadening our measure of productivity from the nonfarm business sector to the total economy reduces productivity growth: Nonfarm business productivity, total economy productivity, and hourly compensation,1948–2022
Year | NFB productivity | Total economy productivity | Average hourly compensation, NFB (index) |
---|---|---|---|
1948 | 46.70 | 47.32 | 49.82 |
1949 | 48.18 | 48.15 | 51.90 |
1950 | 51.41 | 51.40 | 54.33 |
1951 | 52.72 | 52.50 | 54.74 |
1952 | 53.73 | 54.08 | 56.67 |
1953 | 55.05 | 55.99 | 59.38 |
1954 | 56.12 | 57.36 | 60.80 |
1955 | 58.52 | 59.49 | 63.27 |
1956 | 58.18 | 59.76 | 66.13 |
1957 | 59.67 | 61.58 | 67.72 |
1958 | 61.05 | 63.34 | 68.43 |
1959 | 63.21 | 65.34 | 70.60 |
1960 | 63.94 | 66.53 | 72.38 |
1961 | 66.04 | 68.71 | 74.04 |
1962 | 69.03 | 71.12 | 76.23 |
1963 | 71.38 | 73.62 | 77.81 |
1964 | 73.25 | 75.74 | 78.98 |
1965 | 75.59 | 77.98 | 80.32 |
1966 | 78.31 | 80.30 | 82.72 |
1967 | 79.77 | 81.59 | 84.91 |
1968 | 82.55 | 84.08 | 87.63 |
1969 | 82.69 | 84.63 | 88.77 |
1970 | 83.87 | 86.28 | 89.76 |
1971 | 87.16 | 89.51 | 91.25 |
1972 | 90.18 | 91.74 | 94.18 |
1973 | 92.95 | 93.92 | 95.43 |
1974 | 91.40 | 93.06 | 94.04 |
1975 | 93.86 | 95.59 | 95.18 |
1976 | 97.12 | 97.86 | 96.99 |
1977 | 98.80 | 98.92 | 98.55 |
1978 | 100.22 | 99.81 | 99.98 |
1979 | 100.00 | 100.00 | 100.00 |
1980 | 99.96 | 100.11 | 99.57 |
1981 | 101.41 | 102.11 | 99.71 |
1982 | 100.58 | 102.10 | 100.88 |
1983 | 104.71 | 104.87 | 101.07 |
1984 | 107.05 | 107.11 | 101.21 |
1985 | 108.90 | 108.99 | 102.67 |
1986 | 112.14 | 111.53 | 106.78 |
1987 | 112.75 | 112.01 | 107.17 |
1988 | 114.60 | 113.60 | 108.68 |
1989 | 115.62 | 114.69 | 107.19 |
1990 | 117.58 | 116.44 | 108.26 |
1991 | 119.50 | 117.83 | 109.42 |
1992 | 124.84 | 122.07 | 113.39 |
1993 | 124.98 | 122.61 | 111.95 |
1994 | 125.84 | 123.45 | 110.73 |
1995 | 127.20 | 124.20 | 110.80 |
1996 | 129.86 | 126.59 | 111.64 |
1997 | 132.37 | 128.90 | 113.53 |
1998 | 136.81 | 131.87 | 118.49 |
1999 | 142.16 | 135.82 | 121.44 |
2000 | 146.41 | 139.26 | 125.69 |
2001 | 150.18 | 142.23 | 127.51 |
2002 | 156.61 | 146.55 | 128.41 |
2003 | 162.40 | 151.42 | 130.24 |
2004 | 167.22 | 155.51 | 132.63 |
2005 | 170.87 | 158.58 | 132.95 |
2006 | 172.58 | 159.96 | 133.73 |
2007 | 175.29 | 161.87 | 135.65 |
2008 | 178.03 | 164.44 | 134.80 |
2009 | 184.99 | 169.91 | 136.99 |
2010 | 191.23 | 174.56 | 137.29 |
2011 | 190.86 | 174.38 | 135.63 |
2012 | 192.26 | 174.81 | 135.97 |
2013 | 193.85 | 175.92 | 135.63 |
2014 | 195.50 | 176.35 | 136.92 |
2015 | 198.26 | 177.46 | 140.92 |
2016 | 199.64 | 178.49 | 140.99 |
2017 | 202.23 | 180.12 | 142.78 |
2018 | 205.01 | 181.86 | 144.07 |
2019 | 209.67 | 184.40 | 147.02 |
2020 | 220.50 | 192.12 | 156.94 |
2021 | 224.18 | 194.78 | 156.97 |
2022 | 220.03 | 192.80 | 150.53 |
Note: All three lines are indices set to 100 in 1979.
Source: Nonfarm business sector productivity draws on real output and compensation per hour data from the BLS Labor Productivity and Costs (LPC) program; total economy productivity (real output per hour for the total economy) data are unpublished Total Economy Productivity (TEP) series data provided by the BLS upon request.
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