Sentences with phrase «labour productivity»
Labour productivity refers to the amount of work or output that a worker or group of workers can produce in a given amount of time. It measures how efficiently and effectively workers are able to use their skills, time, and resources to complete tasks or produce goods and services. In simpler terms, it is a measure of how much work can be done by a worker or a team in a set timeframe. Full definition
The strength of resource production of late partly reflects an improvement in labour productivity in the mining sector, which is to be expected as new productive capacity comes on line.
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And the third is that the rate of labour productivity growth in the production of services is lower than that in the production of goods.
In turn, the investment spending increases labour productivity as more equipment boosts worker output per hour.
The pick - up in employment growth and relatively stable output growth over the past year has resulted in a fall in measured labour productivity growth.
I write about economics and business with focus on labour productivity and financial risk.
Employers seeking to obtain a competitive advantage need to strike a balance between labour productivity, employment costs and staff engagement.
Lower labour productivity associated with searching of items put your company at risk.
It turns out that although average and marginal productivity are different concepts, real wages track average labour productivity measures reasonably well.
The slowing in 2015 results from a further decline in the growth of trend labour input coupled with no change in the growth rate of trend labour productivity.
The programme is primarily aimed at carrying out regional campaigns to improve labour productivity and boost employment and helping the participating businesses to increase their workforce productivity by at least 30 per cent.
But part of the adjustment occurred via a pick - up in the pace of wage growth, at a time when labour productivity growth was relatively slow.
As you know, wages growth can only exceed inflation by an amount equal to the increase in labour productivity if inflation is to remain low.
Interestingly, public sector labour productivity has risen — a move which runs against long - term trends.
Part of the differences in labour productivity growth between business cycles reflects differences in the rate of capital accumulation and employment growth.
I write about economics and business with focus on labour productivity and financial risk.
High wages increase the benefits of an innovation that increases labour productivity.
Potential output growth can be thought of as the sum of the growth rates of trend labour input and trend labour productivity.
What can the industry do to attract and train more people, and what can be done to improve labour productivity?
The changing capital intensity of the economy explains some of the differences in labour productivity growth between business cycles.
I say this because Canada's labour productivity level in the business sector has been lower than that of the US for almost 50 years.
If Canada's level of labour productivity had increased to the U.S. level (and the other four factors had stayed the same), Canada's income per capita would have been $ 8,500 higher.
According to World Bank data, Spanish labour productivity fell by about 0.5 % from 2002 to 2008 when it was expected to rise by over 4 %.
While no single policy or program would boost labour productivity across the board, I will highlight two specific policies:
In a presentation to the Canadian Association for Business Economics in August, Industry Canada economist Annette Ryan reiterated the familiar productivity lament: beginning in the 1980s, growth in Canadian labour productivity, defined as GDP per hour worked, has been steadily declining and now trails the U.S. and the majority of other G7 countries.
That gap widened during the recent recession, with relative labour productivity in Canada's manufacturing sector dropping to barely two — thirds of what it is in the U.S.
There is some sort of economies of scale or agglomeration effect that causes labour productivity in the city / state to be an increasing function of the number of workers who live there.
Canadian and U.S. labour productivity tracked each other fairly closely through the 1990s, but diverged at roughly the same time as commodity prices surged.
Initial and Additional Paternity Leave stimulate financial and labour productivity performance, as well as attracting and keeping high quality male employees
Labour productivity also depends on the workers» own attributes: innate abilities, level of formal education and training, skills acquired on the job, a capacity to learn new tasks, etc..
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.
These include labour productivity and capital productivity calculations.
innovation results — i.e., evidence of the impact of research, innovation and commercialization as captured in patents, and overall labour productivity.
Pay growth for middle class workers in the US has been abysmal over recent decades — in real terms, median hourly compensation rose only 11 % between 1973 and 2016.1 At the same time, hourly labour productivity has grown steadily, rising by 75 %.
Take an extreme case: suppose labour productivity unexpectedly halved.
Ireland and Norway both had higher labour productivity than the U.S. in 2012.
Lower labour productivity accounts for the largest component of the income gap between Canada and the United States.
The British economic recovery is still fragile and faces many of the same problems Carney seemed unable to solve during his tenure in Canada: sluggish labour productivity, businesses that are stockpiling cash, and a property bubble that seems at risk of bursting.
Canada's «Achilles heel» is the country's lagging labour productivity, and while governments can help turn that around, it's ultimately up to the private sector to boost it, Scotiabank CEO Brian Porter said Tuesday.
According to the latest national accounts, labour productivity per hour worked over the year to the March quarter 1998 was exceptionally strong, increasing by almost 4 per cent.
«The fall in labour productivity seems to have been driven by low real wages and low firm investment,» Wenchao Jin, a research economist at IFS, said.
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.
For the purposes of encouraging high national productivity, government, labour and the private sector must collaborate to institute a management and labour productivity crusade including the introduction of a Service Charter that ensures that productivity is matched with remuneration.
And as it turns out, to ONS did release a revised labour productivity report which showed that unit labour costs in the U.K. increased by 3.5 % in Q1 2017, which is much better than the original estimate of +2.1 % and is the strongest reading in four years to boot.
Future scenarios and projections may thus need to include such changes, as well as relevant population estimates, allowing for the impact of HIV / AIDS, especially on farm labour productivity (Thornton et al., 2006).
While surviving the declined labour productivity in the last two quarters, the first quarter statistics revealed a modest but hopeful increase by 0.3 % for Canadian businesses, with a decrease in costs by 1.8 %, attributed in some way to the slight, but slowed growth in hourly compensation.
However, measured labour productivity growth has improved over the past few years across a broader range of industries, following a period of quite weak growth (Graph 3).
As a businesses strategy, iincentive - drivencompensation schemes are key elements to a businesses» strategy for increasing labour productivity.