| Sumario: | Despite recent progress, measurement and conceptual problems may be producing underrated figures for overall productivity growth. The Bureau of Labor Statistics (BLS) has made ongoing attempts to improve its productivity measures, but it is aware of shortcomings. Commentators have questioned why productivity in services has not grown nearly as quickly as productivity in manufacturing, despite anecdotal evidence to the contrary. In addition, doubts have been expressed concerning several measurement techniques employed by the BLS to calculate productivity trends. The writer discusses five important issues related to the BLS measure of productivity in the business sector.
|
|---|