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Workforce productivity is the amount of goods and services that a group of workers produce in a given amount of time. It is one of several types of productivity that economists measure. Workforce productivity, often referred to as labor productivity, is a measure for an organisation or company, a process, an industry, or a country.
The following list of countries by labour productivity ranks countries by their workforce productivity. Labour productivity can be measured as gross domestic product (GDP) or gross national income (GNI) generated per hour.
The decoupling of median wages from productivity, sometimes known as the great decoupling, [1] is the gap between the growth rate of median wages and the growth rate of GDP per person or productivity. Erik Brynjolfsson and Andrew McAfee highlighted this problem toward the end of the twentieth century and the beginning of the twenty-first ...
Labour productivity is a revealing indicator of several economic indicators as it offers a dynamic measure of economic growth, competitiveness, and living standards within an economy. [ citation needed ] It is the measure of labour productivity (and all that this measure takes into account) which helps explain the principal economic foundations ...
We believe this combination is the recipe for success in an environment of strong economic growth but stubbornly high long-term rates." ... "Labor productivity growth picked up in the past two ...
Economists refer to economic growth caused by more efficient use of inputs (increased productivity of labor, of physical capital, of energy or of materials) as intensive growth. In contrast, economic growth caused only by increases in the amount of inputs available for use (increased population, for example, or new territory) counts as ...
The Total Economy Database was developed at the Groningen Growth and Development Centre (GGDC) in the University of Groningen in the Netherlands in the early 1990s. . Starting in the late 1990s, it began to be produced jointly by GGDC and The Conference Board, a nonprofit founded in 1916 that works on the relationship between business and labor in 60 c
Generally, low productivity growth and increased global competition have been identified for the recent slow wage growth, which prevents from sustainable economic growth. [5] The Economic Policy Institute reports that the current sluggish wage growth and lower labour productivity are driven by the abandonment of full employment as more flexible ...