Labor productivity measures the volume of goods and services a group of workers produces in a given amount of time. The Organisation for Economic Co-operation and Development defines it as a ratio between the volume of output, typically measured as gross domestic product or gross value added, and the volume of labor input, which can be measured in hours worked, jobs or total employment. The measure is used by firms, industries and whole economies to gauge efficiency and performance, and it is distinct from an individual worker's own output because it reflects the collective productivity of a workforce rather than personal performance.
Facts
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1. Workforce Productivity (Wikipedia)
WikipediaOpening paragraph, Workforce productivity Wikipedia article
Workforce productivity, often referred to as labor productivity, is a measure for an organisation or company, a process, an industry, or a country.
Introduction, frequency
The three most commonly used measures of input are:
hours worked, typically from the OECD Annual National Accounts database
workforce jobs; and
number of people in employment.
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