At 08:22 PM 12/18/2002 -0600 Adam C. Lipscomb wrote:
>According to labor statistics, productivity for American workers
>continues to climb. I can understand how that is measured for
>industries in which there is a measurable *thing* produced, such as
>cars or toasters, but how do those statistics get determined for
>nontangibles? Let's look at, say, software coders - how can you
>measure their productivity?
>
>Or is this a P2C2E (Process Too Complicated To Explain)?
Sorry that I missed this when it first arrived..... it must have come in
while I was away on travel.
Anyhow, the simplest measure of productivity is "revenue from goods and
services produced", adjusted for producer inflation, divided by "labor
hours worked". Producer Inflation measures the change in price received
for a fixed-quality good or service over time.
I suspect that this is how a lot of it works.
If you need a more detailed answer, here is the productivity homepage:
http://www.bls.gov/bls/productivity.htm
JDG
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John D. Giorgis - [EMAIL PROTECTED]
"The liberty we prize is not America's gift to the world,
it is God's gift to humanity." - George W. Bush 1/29/03
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