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Labor productivity is a measure that compares economic output against the amount of labor required to produce that output. Labor productivity is often used to...
Labor productivity, also known as workforce productivity, is an economic indicator that helps people understand how efficiently workers produce goods and services. It indicates how much output is generated per labor hour.
Labor productivity is a measure of economic performance that compares the amount of output with the amount of labor used to produce that output. Click for example.
Labor productivity refers to the amount of output that is produced per unit of labor input. It measures the efficiency and effectiveness of labor in generating goods or services. Labor productivity is often used as a key performance indicator for businesses and economies, as it can provide insights into the overall performance and competitiveness.
Labor productivity is defined as real output per labor hour, and growth in labor productivity is measured as the change in this ratio over time. Labor productivity growth is what enables workers to produce more goods and services than they otherwise could for a given number of work hours.
There are two primary types of productivity statistics: Labor productivity compares the growth in output to the growth in hours worked. Total factor productivity compares the growth in output to the growth in a combination of inputs that include labor, capital, energy, materials, and services.
Labor productivity is the most common productivity measure—it’s defined as economic output (gross domestic product, or GDP) per hour worked. Labor productivity is typically the biggest determinant of economic and wage growth in the long term.
Labor productivity is the measure of an economy's hourly output of goods and services. Along with unemployment, the jobs data, and the consumer price index, economists track...
Labor productivity growth is crucial to increased wages and standards of living, and it helps increase consumers’ purchasing power. Economists measure other types of productivity, too. Capital productivity is a measure of how well physical capital—such as real estate, equipment, and inventory—is used to generate output such as goods and ...
Labor productivity is the value that each employed person creates per unit of his or her input. The easiest way to comprehend labor productivity is to imagine a Canadian worker who can make 10 loaves of bread in an hour versus a U.S. worker who in the same hour can make only two loaves of bread.