Productivity (redirected from Productivity growth)

Productivity

The amount of output per unit of input, such as the quantity of a product produced per hour of capital employed.

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productivity

The efficiency with which output is produced by a given set of inputs. Productivity is generally measured by the ratio of output to input. An increase in the ratio indicates an increase in productivity. Conversely, a decrease in the output/input ratio indicates a decline in productivity.

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Productivity

A measure of the units of benefit for each unit of work. Benefits include results of work such as GDP or revenue, while units of work include capital and labor. Productivity in the United States is measured by the U.S. Department of Labor on a quarterly basis. It is beneficial for both individual companies and economies to have the maximum amount of productivity possible.