Comments 1 - 11 of 11 Search these comments
#Productivity #Ireland
The Republic’s position at the top of the global rankings has a lot to do with the high concentration of multinationals here, which typically drive the biggest productivity gains.
A recent Central Statistics Office report suggested labour productivity here grew by 4.5 per cent on average between 2000 and 2016 with a significant increase recorded in 2015, the same year that saw a massive influx of multinational assets and an unprecedented 26 per cent jump in gross domestic product (GDP), later derided as “leprechaun economics”.
Kakistocracy saysThe Republic’s position at the top of the global rankings has a lot to do with the high concentration of multinationals here, which typically drive the biggest productivity gains.
A recent Central Statistics Office report suggested labour productivity here grew by 4.5 per cent on average between 2000 and 2016 with a significant increase recorded in 2015, the same year that saw a massive influx of multinational assets and an unprecedented 26 per cent jump in gross domestic product (GDP), later derided as “leprechaun economics”.
In other words, work not done by Irish people, and money not going to them.
Labor productivity is mostly a function of tools, especially when productivity is measured in output per person. Think 20 guys with shovels digging a ditch, verse one pud plowing along with a Ditch Witch.
Yep, that "labour productivity" metric is a fucking meaningless joke.
The Paris-based agency published figures on Tuesday showing the Republic had the highest rate of labour productivity, effectively economic output per hour of work, of any advanced economy in 2017.
At the top of the OECD list was Ireland at $99.50, followed by Luxembourg ($98.50) and Norway ($83.10). The Republic’s rate was also significantly higher than its biggest trading partners, the United States ($72) and the UK ($61.10), and nearly twice the OECD average of $54.80.
Labour productivity typically measures the value of work done in a given economy over time, with higher value-added jobs generating the greatest productivity increases.
The Republic’s position at the top of the global rankings has a lot to do with the high concentration of multinationals here, which typically drive the biggest productivity gains.
A recent Central Statistics Office report suggested labour productivity here grew by 4.5 per cent on average between 2000 and 2016 with a significant increase recorded in 2015, the same year that saw a massive influx of multinational assets and an unprecedented 26 per cent jump in gross domestic product (GDP), later derided as “leprechaun economics”.
The report also highlighted a gulf between indigenous and foreign-owned firms. Productivity growth among foreign-owned entities averaged 10.9 over the period but was only 2.5 per cent for indigenous firms.
More to read: https://www.irishtimes.com/business/economy/irish-workers-now-ranked-as-most-productive-in-world-1.3783173
#Workers #Productivity #Ireland