Sentences with phrase «average labour productivity»

For the past three business cycles, an appropriate comparison is between average labour productivity growth for the 5 1/2 years after each trough in output (the current expansion has run for 5 1/2 years since the trough in output in June 1991).

Doubling employment would mean an extremely big increase in real wages to get twice as many people willing to work, and it would be a very strange (though not theoretically impossible) halving of average labour productivity that would be compatible with a very large increase in equilibrium real wages.

Not exact matches

«Differences in the average use of reading skills explain around 30 % of the variation in labour productivity across countries,» states the OECD study Skills Outlook 2013.

(Wonkish detail: Labour productivity measures average productivity, but the mechanism described in the preceding paragraphs predicts that real wages should track marginal productivity — the extra output produced by an additional unit of lLabour productivity measures average productivity, but the mechanism described in the preceding paragraphs predicts that real wages should track marginal productivity — the extra output produced by an additional unit of labourlabour.

Technology Change Not the Culprit in Wages Falling Behind U.S. Productivity Gains (Naked Capitalism) Since 1973, there has been divergence between labour productivity and the typical worker's pay in the U.S. as productivity has continued to grow strongly and growth in average compensation has slowed substantially.

Growth in non-farm GDP per hour worked — a broad measure of labour productivity — has averaged 1.8 per cent per annum since the start of the recovery, a higher rate than in the corresponding phase of the previous cycle, but slightly lower than in the 1970s cycle.

Faster average wage growth in Australia has been accompanied by trend growth in labour productivity which is faster than the average of the countries shown in the table.

So it isn't an exact model: if domestic servants value productivity differs from (say) video game programmers, the price of the commodities they contribute to won't express the actual number of human hours of labour, but only the number of hours of human labour that our society (through market, production, class war) deems socially average.

Marx's category of «value,» as in embodied crystalised realised socially necessary average productivity labour theory of value.

Marx's argument is in Capital, that prices will reflect the fluctuating value component, as expressed in average productivity socially necessary labour expended in their production.

However, the issue with using Marx for this is that Marx discovered empirically that not all labour hours are treated the same, and that the level of capitalisation (unit productivity per labour hour), personal productivity (length of the working day, fatigue), and social utility produced an «average» social labourer.

In 2002 average annual labour productivity in Spain was around $ 42,000, compared to $ 61,000 in Germany or $ 83,000 in the United States.

Type of business organisation: sole proprietors, partnerships, private limited companies, public limited companies, multinationals, co-operatives, public corporations, labour - intensive and capital - intensive, difference between production and productivity, Total and average cost, fixed and variable cost, average and total revenue, aims of business organisations, Perfect competition and Monopoly (advantages and disadvantages), Different sizes of firms (Integrations), Economies and diseconomies of scale.