Job Market Monitor
productivity
The problem with productivity – It’s about how people, process and technology work together
The problem with productivity, as Susannah Clements, CIPD deputy chief executive, puts it, is that it is fundamentally an economic equation – output divided by people employed. “But people don’t think on that level. They think about how hard they’re working personally, not necessarily how effectively they’re working collectively. We can have a workforce that feels … Continue reading
UK vs G7 / Widest Productivity Gap in 20 years
Britain’s productivity gap with its major developed country rivals is at its widest in 20 years, following the flat-lining of the economy since the deep recession of 2008-09. International comparisons released by the Office for National Statistics show that output per hour worked in the UK is 21% lower than the average for the other … Continue reading
The labor market implications of technological change in US
The rate of technological innovation obviously has major labor market effects. What is the relationship between new technological advances and the current skill distribution of the labor force? Continue reading
An Aging Workforce is NOT Less Productive
As the population grows older an increasing percentage of the workforce will be past age 60. Older workers are ordinarily thought to be less productive than younger ones, raising the question of whether an aging workforce will also be a less productive one. In new research funded by the Social Security Administration, I consider whether … Continue reading
UK / A never seen recession: Employment has stayed remarkably, high productivity – output per worker – has dived
We have all grown used to the fact that the past few years have been different from any previous period in the last century. Output has stayed lower for longer than in any previous recession: in 2013, real national income is still lower than it was in 2007. This of course has driven public borrowing … Continue reading
UK / Stress and presenteeism sapping productivity
A rise in presenteeism is affecting productivity levels at work, as nearly two in three employees have attended work while feeling ill in 2013. According to the research from business psychology company Robertson Cooper, productivity levels for employees who feel ill drops from 75% on ‘normal days’ to 55% on ‘sick days’. The study also … Continue reading
US / Productivity and Employment: an enlarging Gap
Up until about 15 years ago, you could have nicely employed this picture against your Luddite friends who complain about productivity killing jobs. Until then, the two lines largely grew together. Yes, we were more productive, but growth resulted in higher demand that fed back into the economy’s job-creation function in ways that boosted job … Continue reading
US / Minimum Wage / Would be $16.50 an hour — $33,000 a year — if it had kept up with the growth of productivity since 1968
You may have seen charts like the one to the right from the Economic Policy Institute, showing how working people’s wages stopped going up along with productivity gains. This means the gains went…somewhere else. See if you can guess who got them? (Hint: it’s the 1 percent; this is one driver of the terrible income and … Continue reading
Canada / Labour productivity fell 0.5% in the third quarter
The labour productivity of Canadian businesses fell 0.5% in the third quarter, following a 0.6% decline the previous quarter. It was the second consecutive decrease after three quarterly gains. Chart 1 Productivity in Canadian businesses declines once more The decline in productivity in the third quarter took place in a context where business output remained at the same level … Continue reading
US – Productivity increases modestly
Nonfarm productivity increased at a modest pace in the third quarter, giving little sign that businesses are poised to ramp up hiring significantly. Productivity, which measures hourly output per worker, increased at a 1.9 percent annual rate, the Labor Department said on Thursday. Many economists would read a drop in productivity as a sign that … Continue reading
German economic strength: Fewer hours, not particularly productive and less time at school
Imagine a country whose inhabitants work fewer hours than almost any others, whose workforce is not particularly productive and whose children spend less time at school than most of its neighbours. Hardly a recipe for economic success, you might think. But the country described above is none other than Germany, Europe’s industrial powerhouse and the … Continue reading
OECD – Canada: Overall productivity has actually fallen since 2002
Canada has weathered the global economic crisis comparatively well but will have to become more productive to sustain its high standard of living, according to OECD’s latest Economic Survey of Canada… The report identifies sluggish productivity growth as the main long-term challenge facing Canada’s economy. Per capita income has increased in recent years, as more people … Continue reading
Spreading the Benefits of the Productivity Revolution
At the heart of the productivity revolution are the computers, software, and the Internet that have found their way into the production of almost everything a modern economy creates. Factory workers are being replaced by computerized machine tools and robotics; office workers, by software applications; professionals, by ever more specialized apps; communications and transportation workers, … Continue reading
Older workers | Productivity : Average age-productivity profile of individual workers is increasing until age 65
“Older workers are often thought to be less productive” write Axel Börsch-Supan and Matthias Weiss in PRODUCTIVITY AND AGE: EVIDENCE FROM WORK TEAMS AT THE ASSEMBLY LINE published on mea.uni-mannheim.de. “This impression is widespread and implicit in many discussions about aging, even in our economic textbooks. Often regarded as an established fact, it has profound implications for personnel … Continue reading
India | Productivity | ‘Paraskilling’ creates new jobs by slicing old ones to bits
CSMonitor – How can you reduce surgery costs while boosting local employment? Paraskilling, that’s how. The paraskilling framework is as old as the assembly line, but it’s got a new modus operandi. By re-engineering complex systems into simplified tasks that can be performed by a larger, lower-skilled workforce, an organization is able to cut its … Continue reading
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