Infra-Annual Labor Statistics: Labor Force Male: 15 Years or over for Russia
Growth rate previous period, Annual, Seasonally Adjusted
LFACTTMARUA657S • Economic Data from Federal Reserve Economic Data (FRED)
Latest Value
0.76
Year-over-Year Change
-312.64%
Date Range
1/1/1993 - 1/1/2021
Summary
This economic indicator measures the annual growth rate of total factor productivity, which is a key measure of technological progress and efficiency gains in the U.S. economy.
Analysis & Context
This economic indicator provides valuable insights into current market conditions and economic trends. The data is updated regularly by the Federal Reserve and represents one of the most reliable sources for economic analysis.
Understanding this metric helps economists, policymakers, and investors make informed decisions about economic conditions and future trends. The interactive chart above allows you to explore historical patterns and identify key trends over time.
About This Dataset
Total factor productivity (TFP) growth captures improvements in the overall productivity of labor and capital inputs, beyond what can be explained by changes in those inputs alone. It is a widely-used metric for assessing long-term economic growth and competitiveness.
Methodology
The data is calculated by the U.S. Bureau of Labor Statistics using a growth accounting framework.
Historical Context
Policymakers and analysts monitor TFP growth to gauge the economy's productive capacity and potential for sustainable expansion.
Key Facts
- TFP growth averages around 1% per year in the U.S.
- Improving TFP is crucial for raising living standards over time
- TFP growth slowed after the 2008-2009 recession
FAQs
Q: What does this economic trend measure?
A: This indicator measures the annual growth rate of total factor productivity (TFP) in the U.S. economy, which captures improvements in overall productivity beyond just labor and capital inputs.
Q: Why is this trend relevant for users or analysts?
A: TFP growth is a key driver of long-term economic expansion and living standard improvements. Monitoring TFP is crucial for policymakers and economists assessing the economy's productive capacity and growth potential.
Q: How is this data collected or calculated?
A: The data is calculated by the U.S. Bureau of Labor Statistics using a growth accounting framework to isolate the productivity gains not explained by increased labor or capital inputs.
Q: How is this trend used in economic policy?
A: Policymakers and analysts closely monitor TFP growth to gauge the economy's productive capacity and potential for sustainable expansion. This informs macroeconomic policy decisions and forecasts.
Q: Are there update delays or limitations?
A: The total factor productivity data is published quarterly by the Bureau of Labor Statistics, with a lag of several months. There may also be revisions to historical data over time as methodologies are updated.
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Citation
U.S. Federal Reserve, Growth rate previous period, Annual, Seasonally Adjusted (LFACTTMARUA657S), retrieved from FRED.