DEMO — development content for layout testing. Not real editorial reporting.
DEMO content for development and layout testing — not real editorial reporting.
Labour productivity measures output per hour worked. Total factor productivity attempts to capture the part of growth not explained by more labour or capital.
How it works
Measuring output is especially difficult in services and in digital goods, where quality changes rapidly and prices may be zero.
Productivity is the main source of long-run growth in living standards, yet it is notoriously hard to measure.
What to watch
Revisions and methodological changes mean productivity trends should be interpreted with care.
Key concepts
- Productivity
- Economic data
