Labour productivity on an output per hour basis fell by 0.5% in Q4 of 2012 and by 0.8% in manufacturing. Output per hour fell by 0.5% in the services sector. Market sector productivity fell by 0.6%, its lowest level since 2005.
Labour costs increased by 0.5% in Q4 2012, 1.8% higher than 2011. Labour costs in manufacturing increased by 1.7%, 7.4% higher than 2011.
Gross value added (GVA) fell by 0.3% while the number of workers increased by 0.6%, jobs increased by 0.5% and hours by 0.3%. Falling output with rising workers, jobs and hours suggests output per worker and output per job fell by 0.8% and output per hour fell by 0.5% (labour productivity is also calculable as growth of GVA minus growth of labour input).
Some people have more than one job which results in small differences between growth of output per worker and growth of output per job.
No comments:
Post a Comment