Sentences with phrase «of labour productivity»

Five years ago we published two papers [1, 2], which introduced a new macroeconomic model explaining the evolution of labour productivity in developed countries.

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.

Policies that spur more efficient corporate restructuring can revive productivity growth by targeting three inter-related sources of labour productivity weakness: the survival of «zombie» firms (low productivity firms that would typically exit in a competitive market), capital misallocation and stalling technological diffusion... As the zombie firm problem may partly stem from bank forbearance, complementary reforms to insolvency regimes are essential to ensure that a more aggressive policy to resolve non-performing loans is effective.

This is the conventional measure of labour productivity.

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.

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.

Raise interest rates in the U.S. and you could kill the recovery and exacerbate the problem of long - term unemployment, with lasting effects of labour productivity, economic growth and, yes, even government revenues.

Not exact matches

STAFF turnover is costing Western Australian companies billions of dollars and needs to be addressed to combat labour shortages and improve productivity.

innovation results — i.e., evidence of the impact of research, innovation and commercialization as captured in patents, and overall labour productivity.

«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.

If you ignore the fact that the prices of resources relative to manufactures increased sharply after 2002, you'd interpret the shift from manufacturing to resources as a productivity - reducing reallocation of capital and labour.

(Note: multifactor productivity, or MFP, is commonly seen as measure of technical progress — the increase in output that can not be explained by the accumulation of labour and capital inputs.

«We find that industrial robots increase labour productivity, total factor productivity, and wages,» write lead researchers Georg Graetz, an assistant professor in the department of economics at Uppsala, and Guy Michaels, an associate professor in the department of economics at LSE.

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's equal to a permanent increase in output of almost $ 1,000 per Canadian every year, and that's even before you factor in the possible investment and productivity gains that would come with such an increase in labour supply,» he said.

More than 40 years ago, the Magna founder decided his company would experience higher productivity and less labour strife — and, as a result, faster growth — if its workers got some of the financial benefits of strong performance.

I don't know what was happening to Canadian productivity before 1973, but even if there was no growth in output per worker, the increase in our labour terms of trade would have induced significant gains in real wages.

The productivity - median compensation divergence can be broken down into two aspects of rising inequality: the rise in top - half income inequality (divergence between mean and median compensation) which began around 1973, and the fall in the labour share (divergence between productivity and mean compensation) which began around 2000.

Lower labour productivity associated with searching of items put your company at risk.

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.

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.

There was no discussion of how an ageing population will affect labour force growth, or productivity growth.

Most economists expect potential economic growth to decline from about 3 per cent annually to about 2 per cent over the next ten years, as a result of continued poor productivity growth and a slowing labour force growth as the population ages.

The budget does not even provide a projection of Canada's long - term potential economic growth and the key determinants underlying it - productivity growth and labour force growth.

Automation, artificial intelligence and other innovations will benefit the Canadian economy by boosting productivity and living standards, but they could also have less desirable side effects on the labour market and income distribution that will have to be managed, Bank of Canada Senior Deputy Governor Carolyn A. Wilkins said today.

So, in Canada's case, lower labour productivity and fewer hours worked caused Canada's income per capita to be lower than that of the United States.

For example, faster labour force growth will encourage firms to invest not only to meet greater demand but also to equip these additional workers with machines and other capital to raise their productivity.5 The rate of technological progress is also a key factor, since a faster pace of innovation raises the return on each additional unit of capital, stimulating firms to invest more.

The disappointing performance of business investment to date could reflect more sustained structural factors, such as slowing labour force growth, low productivity growth and regulatory obstacles.

For example, to calculate what portion of the Canada-U.S. gap in income per capita is due to Canada's lower labour productivity, we substitute U.S. labour productivity into the equation but keep Canadian data for the other four components (hours worked, unemployment, labour force participation, and demographic structure).

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.

So if there are policies that would boost potential output — the sum of labour force growth and productivity growth — then we need to pursue them.

The latter initiative is perhaps the most important, as technological innovation is so central to the country's goal to transition from low - end, labour - intensive manufacturing to a high - tech, productivity - led, consumption - based economy — and such a rich source of opportunities for investors.

«The reduced full year guidance [at South Deep] is attributable to the ongoing impact of poor equipment reliability, the slower advance rates in Corridor 3 and delayed extraction in the composites, as well as slower rates of destress in the March quarter, again a symptom of the lower productivity related to uncertainty around the labour restructuring,» Gold Fields CEO Nick Holland said.

By using the known rates of increase in the money supply and the population and a «guesstimate» of the rate of increase in labour productivity we can arrive at a theoretical rate of change for the purchasing power of money.

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.

In the long run both types of investment create capital that can yield substantial positive rates of return (above the current 30 and 50 year real bond rate) and result in both higher productivity and stronger labour force growth.

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.

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.

The U.S. Bureau of Labor Statistics has just released a comparison of manufacturing output, employment, productivity, and unit labour costs in 16 different industrialized countries. Here's the link: http://www.bls.gov/news.release/pdf/prod4.pdf This data confirms that Canada's manufacturing industry is in the midst of a uniquely terrible crisis. Some commentators have suggested that the sharp decline in Canadian -LSB-...]

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).

The labour productivity of Canadian businesses fell by 0.6 per cent in the third quarter, the second consecutive decline, as the number of hours worked grew faster than business output.

When comparing labour productivity performance between economic cycles, it is therefore important to measure labour productivity over common phases of the cycle.

Labour productivity growth — the rate of growth of output per hour worked — is also a useful concept since labour productivity growth ultimately determines the sustainable rate of growth of real wages in the ecLabour productivity growth — the rate of growth of output per hour worked — is also a useful concept since labour productivity growth ultimately determines the sustainable rate of growth of real wages in the eclabour productivity growth ultimately determines the sustainable rate of growth of real wages in the economy.

Greater Vancouver disappoints when it comes to its labour productivity level, an important driver of living standards.

Part of the differences in labour productivity growth between business cycles reflects differences in the rate of capital accumulation and employment growth.

This growth slowdown reflects both declining labour force growth as baby boomers retire in large numbers and a reduced pace of aggregate productivity growth.

However, total factor productivity, which allows for changes in both labour and capital inputs into the production process, and is therefore a better measure of efficiency, is growing faster in the current recovery than in the corresponding phases of either of the two previous cycles (Box 2).

The changing capital intensity of the economy explains some of the differences in labour productivity growth between business cycles.