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17.07.2014

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The self improvement industry is estimated to be worth $11 billion in the United States alone. Offering self improvement services is transitioning to new formats of delivery packages such as audio, video, and over the internet. The book industry for self help is estimated to be worth $776 million with audio books being delivered to 24 million Americans with a total worth of $455 million. The following list of facts will help to provide trends and common traits associated with the self improvement industry. Productivity measures for a number of detailed industries and for several aggregate sectors are highlighted in this Spotlight. Industries that were major producers, sellers, or users of IT equipment were among the industries with the fastest productivity growth between 2000 and 2010. This industry includes a variety of market segments from holistic institutes, infomercials, books and audio books, motivational speakers, websites, seminars, personal coaching, online education, weight loss, and stress management programs.
Televisions helps the already flourishing industry with shows such as Hoarders and Intervention. Sector measures are derived as weighted aggregates of the measures for component industries.The charts below show how employment shares have changed over the decade among the sectors studied in this Spotlight.


Of the 20 industries shown below, 15 posted increases in output over the period, while all but 2 recorded declines in hours.For some industries, including wireless telecommunications carriers and computer and peripheral equipment manufacturing, strong productivity growth accompanied rapid output increases over the period. Included in the measures of employment and hours are all workers who contribute to the output of the industry, including self-employed and unpaid family workers as well as workers on establishment payrolls. In other industries, such as photofinishing and video tape and disc rental stores, productivity rose despite reductions in output because labor hours were reduced even more.
The expansion of information technology (IT) that fueled rapid productivity growth during the 1990s continued after 2000, and improvements in IT hardware and software, mobile telecommunications, data communications, and the growth of the internet contributed further to productivity growth. As shown below, the manufacturing sector's employment share declined over the period, as the share attributable to service-providing industries expanded. The structural changes that affected productivity growth in these industries also stemmed from the development of IT and the adoption of new technologies and products. The corresponding annual peaks occurred in 2000 and 2007.The charts below illustrate the effect of business cycles on industry productivity growth. In contrast to the strong output growth that contributed to productivity gains in the late 1990s, the two economic downturns during the 2000–2010 period resulted in declines or slower growth in output for many industries. Over the full business cycle from 2000 to 2007, productivity growth averaged between 0 and 4 percent per year in most of the industries studied.


The growth was fueled by the expansion of information technology.From 2000 to 2007, productivity growth averaged between 0 and 4 percent per year in most of the industries studied. In contrast, during the recessionary period from 2007 to 2009, productivity declined in over half of the industries studied. During the recessionary period from 2007 to 2009, productivity declined in over half of the industries studied. Subsequently, many industries recorded very large increases in productivity from 2009 to 2010, the first year of the recovery. The resulting job losses and continued declines or weak growth in labor hours accompanied the 2000-2010 productivity increases in many of the sectors and industries studied in this Spotlight on Statistics.Labor productivity, defined as output per hour of labor input, is a measure of how efficiently labor is used in the production of goods and services. In other industries, such as photofinishing and video tape and disc rental stores, productivity rose despite reductions in output because labor hours were reduced even more.Increases in labor productivity mitigate the impact of rising hourly compensation facing employers.
Most of the industries examined posted increases in labor productivity and real hourly compensation from 2000 to 2010.Productivity grew most rapidly in the information sector, while the manufacturing, retail trade, and wholesale trade sectors also had notable productivity increases.



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