Wood industry

Virtually invisible to most consumers, products of the wood container industry are used to move products ranging from diapers to machine tools to groceries. Productivity gains spurred by widespread automation arrived to these suppliers of domestic industry as recently. Productivity in the wood containers industry, as measured by output per employee hour, grew at an average annual rate of percent during the period. Wood container output increased at a rate of percent. Employee hours, by comparison, increased at a rate of only percent. For the wood containers industry, productivity indexes represent the change in the ratio of the weighted output of specified products to the employee hours expended to produce that output. The output and employee hour series that underlie the industry productivity measure are based on data from the Bureau of the Census.
The output index is deflated by matching producer price indexes from the Bureau of Labor Statistics. For a more complete description of the methodology, see the appendix at the end of this article. Productivity and output Industry productivity grew most rapidly percent during the subperiod was a turning point for long term productivity gains in the wood container industry. Output increased at a rate of percent, while hours declined at a rate of percent. Productivity growth was not continuous during this subperiod, increasing in four years but decreasing in the other three. It surged in by percent and in percent, posting by far the biggest increases of the subperiod. Output increased percent in.
The largest output increase during the subperiod was percent the year of greatest growth within the extended economic expansion. Employee hours also increased considerably, however, rising by percent, holding productivity gains to percent that year. productivity growth slowed to a percent annual rate. Output expanded at a rate of percent, but hours rose at a rate of percent. Productivity fell percent in and percent in, but edged up percent in it rose percent in and peaked at percent in. Output rose percent in and percent in, when the economic expansion was approaching its peak. Hours rose by and percent in those years.