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Trends In Productivity
Productivity, defined as a measure of the amount of output per hour of work, is shown to be typically pro-cyclical. This means that productivity increases during economic upswings and slows down (or even declines) when the economy is in a downturn.
The Importance Of Labor Productivity Growth
As a component of total productivity, the growth of labor productivity is one important marker in determining the rise or fall of overall economic growth. As of the present, however, labor productivity is simply another statistic number reported in government agencies.
Managing Productivity Measurements
At present, there had been numerous productivity measurement techniques used by different groups of people for different purposes and reasons. These techniques had been developed for different applications, too.