Labour Productivity

Labour Productivity

According to the International Labour Organization, the UN agency, labour productivity is the total volume of output (measured in terms of Gross Domestic Product) produced per unit of input i.e. labour (in terms of the number of employed people) in a given time period. Calculating labour productivity facilitates an assessment of GDP relative to labour input levels and growth rates over time, providing information about the efficiency and quality of human capital in the production process for a given economic and social context.

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