Productivity

An economic measure of output per unit of input. Inputs include labor and capital, while output is typically measured in revenues and other GDP components such as business inventories. Productivity measures may be examined collectively (across the whole economy) or viewed industry by industry to examine trends in labor growth, wage levels and technological improvement.

Productivity gains are vital to the economy because they allow us to accomplish more with less. Capital and labor are both scarce resources, so maximizing their impact is always a core concern of modern business. Productivity enhancements come from technology advances, such as computers and the internet, supply chain and logistics improvements, and increased skill levels within the workforce.

Productivity is measured and tracked by many economists as a clue for predicting future levels of GDP growth. The productivity measure commonly reported through the media is based on the ratio of GDP to total hours worked in the economy during a measuring period; this productivity measure is produced by the Bureau of Labor Statistics four times per year.


Investment dictionary. . 2012.

Look at other dictionaries:

  • Productivity — in economics refers to measures of output from production processes, per unit of input. Labor productivity, for example, is typically measured as a ratio of output per labor hour, an input. Productivity may be conceived of as a measure of the… …   Wikipedia

  • Productivity — Pro duc*tiv i*ty, n. The quality or state of being productive; productiveness. Emerson. [1913 Webster] Not indeed as the product, but as the producing power, the productivity. Coleridge. [1913 Webster] …   The Collaborative International Dictionary of English

  • productivity — productivity. См. продуктивность. (Источник: «Англо русский толковый словарь генетических терминов». Арефьев В.А., Лисовенко Л.А., Москва: Изд во ВНИРО, 1995 г.) …   Молекулярная биология и генетика. Толковый словарь.

  • productivity — index boom (prosperity), creation, utility (usefulness) Burton s Legal Thesaurus. William C. Burton. 2006 …   Law dictionary

  • productivity — 1809, quality of being productive, from PRODUCTIVE (Cf. productive) + ITY (Cf. ity). Economic sense of rate of output per unit is from 1899 …   Etymology dictionary

  • productivity — [n] output, work rate abundance, capacity, fecundity, fertility, mass production, potency, production, productiveness, richness, yield; concept 630 Ant. idleness, unproductivity …   New thesaurus

  • productivity — ► NOUN 1) the state or quality of being productive. 2) the effectiveness of productive effort …   English terms dictionary

  • productivity — pro·duc·tiv·i·ty (prō dŭk tĭvʹĭ tē, prŏd ək ) n. 1. The quality of being productive. 2. Economics. The rate at which goods or services are produced especially output per unit of labor. 3. Ecology. The rate at which radiant energy is used by… …   Universalium

  • productivity — noun ADJECTIVE ▪ high, low ▪ enhanced, greater, improved, increased, maximum ▪ improving, increasing …   Collocations dictionary

  • productivity — The amount of output per unit of input, such as the quantity of a product produced per hour of capital employed. Bloomberg Financial Dictionary * * * productivity pro‧duc‧tiv‧i‧ty [ˌprɒdʌkˈtɪvti, dək ǁ ˌprɑː ] noun [uncountable] MANUFACTURING… …   Financial and business terms

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