7 Labor hours data not only incorporate both employment and average weekly hours data for a given sector, but they also include data for all worker categories (including employees, proprietors, and unpaid family workers), and utilize data from both the Current Establishment Statistics program as well as the Current Population Survey, in addition to other sources. We would like to use cookies to collect information about how you use ons.gov.uk. This rise was caused by gross value added (GVA) growing at 1.1% compared with the same quarter a year ago, while hours worked grew by 0.8%. Average weekly hours did not fall by nearly as much during this period, and in fact began to increase just one quarter after the end of the recession, while employment continued to decline for nearly a full year after the recession ended. Output per hour, output per job and output per worker for the whole economy and a range of industries. During this period, business sector output grew by 42 percent and hours did not grow at all (i.e., a zero-percent growth rate), and so labor productivity—the difference in these growth rates—grew by 42 percent. With regard to timing, one should determine whether output and hours each made their moves at the same time or with a lead or lag of several quarters, and whether their ascent or descent was compressed or gradual. It is defined as the value of all goods and services produced less the value of any goods or services used in their creation.

It is defined as the value of all goods and services produced less the value of any goods or services used in their creation. Because, over the long run, productivity growth is the economic factor that has the potential to lead to improved living standards for the participants of an economy—in the form of higher consumption of goods and services. Although labor is the most common input factor, you also could use variables such as equipment, raw materials and money to calculate productivity growth rates. Gross domestic product (GDP) is a measure for the economic activity. Information in this article will be made available to sensory-impaired individuals upon request. This fact might strike some as surprising: workers in the U.S. business sector worked virtually the same number of hours in 2013 as they had in 1998—approximately 194 billion labor hours.1 What this means is that there was ultimately no growth at all in the number of hours worked over this 15-year period, despite the fact that the U.S population gained over 40 million people during that time, and despite the fact that there were thousands of new businesses established during that time.