In turn, the investment spending increases labour productivity as more equipment boosts
worker output per hour.
By comparison, during the 1991 to 2001 period, when GDP growth averaged 3.3 % per year, the working population was expanding at a 1.2 % annual rate and growth
in output per hour averaged 2.0 % per year.
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 economy.
By comparison, during the 1991 to 2001 period, when GDP growth averaged 3.3 percent per year, the working population was expanding at a 1.2 percent annual rate and growth in
output per hour averaged 2.0 percent per year.
The surprising combination of strength in employment growth and weakness in output growth in the second half of 2004 implies that labour productivity, as measured
by output per hour worked, fell by 0.4 per cent over 2004.
Back then,
U.S. output per hour for the nonfarm business sector was growing at an average annualized rate of roughly 2.50 %.
Workers in the UK are producing 2.6 %
less output per hour than they were at the start of 2008, according to new research.
In terms
of output per hour worked, year - ended productivity growth has eased to about 1 3/4 per cent, down from the average of 3 1/4 per cent prevailing in the previous three years.
After years of tepid productivity growth, the U.S. economy saw an outright drop
in output per hour in the second quarter of 2016, marking «what is now the worst run since 1979,» says Morgan Stanley Global Economist Elga Bartsch.
Labor productivity, or
output per hours worked, increased at a 1.9 % annual rate from July through September, the Labor Department said Thursday.
If labor were instead allocated in a gender - neutral way, welfare would increase and
output per hour would climb by 5.4 percent as people made better use of their time, given their skills.»
If slacking increases the quantity and quality of
your output per hour enough, you can more than make up for those hours spent lolling in the park or pushing your kid on the swings (which, your kid would no doubt confirm, has plenty of other inherent benefits).
But then the 1.2 percent has to be reduced, because that's
output per hour.
Unit labour costs in the manufacturing sector, for one, have remained roughly level for over a decade, as gains in productivity (
output per hour) outpaced wage increases.
As far as the economy goes, productivity, or
output per hour, is perhaps the one Canadian inferiority complex that survived the Great Recession.
Hicks reasoned that with longer hours,
output per hour would fall.
The article correctly confirms the statement by Labour's shadow business secretary that
output per hour worked is higher in competitor nations.
Critically the think tank says Britain's low productivity — or
output per hour - can be linked to the failure to develop Brits stuck in low - skilled, low wage jobs.
The 4 - Hour Workweek: the best strategies to maximize
your output per hour.
The final estimate of the International Comparison of Productivity, released today by the Office for National Statistics (ONS), confirms that
output per hour in the UK lagged 18 percentage points behind the G7 average in 2014, and a staggering 36 percentage points behind Germany.
Increases in
output per hour have averaged 0.5 % a year over the past six years, versus an average 2.4 % over the prior 20 years.