Source: U.S. Bureau of Labor Statistics
Multifactor productivity is calculated by dividing an index of real output by an index of combined units of labor input and capital services. It is designed to measure the joint influences of technological change, efficiency improvements, returns to scale, reallocation of resources, and other factors of economic growth, accounting for the effects of capital and labor. This data was found using sectoral output per unit of combined K, L, E, M, S.
For more information, please go to https://www.bls.gov/mfp/
Source Indicator: MPU5000012
U.S. Bureau of Labor Statistics, Wood Products: Multifactor Productivity [MPU5000012], retrieved from FRED, Federal Reserve Bank of St. Louis; https://fred.stlouisfed.org/series/MPU5000012, October 21, 2021.