Australian Bureau of Statistics 1301.0 - Year Book Australia,
2004 Previous ISSUE Released at 11:30 AM (CANBERRA TIME)
27/02/2004 |Page tools: Print Page RSS Search this Product|
Multifactor productivity (MFP) statistics provide a measure of
changes in the efficiency of production. These measures are used
by both government and private organisations to help gauge the
effect of changes in work practices, technology, education and
training. MFP statistics are available only for the market
sector as a whole. Although MFP is the more comprehensive
measure of productivity, the ABS also produces industry labour
productivity indexes. One measure of labour productivity, an
index of industry GVA in chain volume measures per hour worked,
is useful because it is provided for each market sector
industry. Labour productivity is constant if there is no change
in the amount produced (chain volume GVA) per hour worked.
Changes in this ratio reflect changes in the average skill or
productivity level of the workforce. This mea